Explanatory note

This Order approves the payment to the African Development Bank of a subscription not exceeding in the aggregate 110 million pounds sterling to the increased authorised capital stock of the Bank pursuant to arrangements made with the Bank in accordance with Resolution B/BG/EXTRA/2019/03 adopted by the Board of Governors of the Bank on 31st October 2019.

The Order further provides that the Secretary of State may make payments to maintain the value of the subscription to the increased authorised capital stock. It also provides that the Secretary of State may make payments to redeem any non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of this subscription.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

The provisions of the Resolution may be obtained by application to the Department for International Development, 22, Whitehall, London SW1A 2EG.