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Seoul to increase dues to ADB, IBRD

Written: 2001-06-20 00:00:00Updated: 0000-00-00 00:00:00

South Korea has decided to raise its dues to the Asia Development Bank and the International Bank for Reconstruction and Development.
An official at the Ministry of Finance and Economy said South Korea will contribute 81 million U.S. dollars to the A-D-B and one point three million dollars to the I-B-R-D.
In 19-97, South Korea's due to the A-D-B was about two percent of its total budget.
The decision will increase the ratio to two-point-eight percent.
The A-D-B put together a three-point-seven billion dollar bailout package for South Korea in 19-97 when it was hit by a currency crisis.

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