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3. The authorized capital stock of the Bank may be increased by the Board of Governors by a Super Majority

vote as provided in Article 28, at such time and under such terms and conditions as it may deem advisable,

including the proportion between paid-in and callable shares.

4. The term “dollar” and the symbol “$” wherever used in this Agreement shall be understood as being the

official currency of payment of the United States of America.

Article 5 Subscription of Shares

1. Each member shall subscribe to shares of the capital stock of the Bank. Each subscription to the original

authorized capital stock shall be for paid-in shares and callable shares in the proportion two (2) to eight (8). The

initial number of shares available to be subscribed by countries which become members in accordance with

Article 58 shall be that set forth in Schedule A.

2. The initial number of shares to be subscribed by countries which are admitted to membership in

accordance with paragraph 2 of Article 3 shall be determined by the Board of Governors; provided, however, that

no such subscription shall be authorized which would have the effect of reducing the percentage of capital stock

held by regional members below seventy-five (75) per cent of the total subscribed capital stock, unless otherwise

agreed by the Board of Governors by a Super Majority vote as provided in Article 28.

3. The Board of Governors may, at the request of a member, increase the subscription of such member on

such terms and conditions as the Board may determine by a Super Majority vote as provided in Article 28;

provided, however, that no such increase in the subscription of any member shall be authorized which would

have the effect of reducing the percentage of capital stock held by regional members below seventy-five (75) per

cent of the total subscribed capital stock, unless otherwise agreed by the Board of Governors by a Super Majority

vote as provided in Article 28.

4. The Board of Governors shall at intervals of not more than five (5) years review the capital stock of the

Bank. In case of an increase in the authorized capital stock, each member shall have a reasonable opportunity

to subscribe, under such terms and conditions as the Board of Governors shall determine, to a proportion of the

increase of stock equivalent to the proportion which its stock theretofore subscribed bears to the total subscribed

capital stock immediately prior to such increase. No member shall be obligated to subscribe to any part of an

increase of capital stock.

Article 6 Payment of Subscriptions

1. Payment of the amount initially subscribed by each Signatory to this Agreement which becomes a member

in accordance with Article 58 to the paid-in capital stock of the Bank shall be made in five (5) installments, of

twenty (20) per cent each of such amount, except as provided in paragraph 5 of this Article. The first installment

shall be paid by each member within thirty (30) days after entry into force of this Agreement, or on or before the

date of deposit on its behalf of its instrument of ratification, acceptance or approval in accordance with paragraph

1 of Article 58, whichever is later. The second installment shall become due one (1) year from the entry into force

of this Agreement. The remaining three (3) installments shall become due successively one (1) year from the

date on which the preceding installment becomes due.

2. Each installment of the payment of initial subscriptions to the original paid-in capital stock shall be paid in

dollars or other convertible currency, except as provided in paragraph 5 of this Article. The Bank may at any time

convert such payments into dollars. All rights, including voting rights, acquired in respect of paid-in and

associated callable shares for which such payments are due but have not been received shall be suspended until

full payment is received by the Bank.

3. Payment of the amount subscribed to the callable capital stock of the Bank shall be subject to call only as

and when required by the Bank to meet its liabilities. In the event of such a call, payment may be made at the

option of the member in dollars or in the currency required to discharge the obligations of the Bank for the purpose

of which the call is made. Calls on unpaid subscriptions shall be uniform in percentage on all callable shares.

4. The Bank shall determine the place for any payment under this Article, provided that, until the inaugural

meeting of the Board of Governors, the payment of the first installment referred to in paragraph 1 of this Article

shall be made to the Government of the People’s Republic of China, as Trustee for the Bank.

5. A member considered as a less developed country for purposes of this paragraph may pay its subscription

under paragraphs 1 and 2 of this Article, as an alternative, either: