New Delhi, Apr 28 India is offloading its equity in the Manila-based Asian Development Bank (ADB), Indonesian news agency Antara said today quoting officials.

Indonesia is ready to acquire 1.5 per cent stake of India to increase its equity in the bank from current 5.5 per cent, the agency added.

Indonesia has opportunity to increase its holding in the ADB as India has offered to part with its equity, the agency quoted Secretary of the State Minister for National Development Planning (Indonesia) Syahrial Loetan as saying.

" During his visit to the National Development Planning Board (Bappenas) Haruhiko Kuroda (ADB President) offered the opportunity to increase our equity. The opportunity existed because India was offering part of its shares,"he said.

India owns 6.3 per cent stake in the ADB, while China has 6.4 per cent Largest shares in the bank are held by the US and Japan, each holding 15.57 per cent

Indonesia, he said, will discuss the issue at the 42nd annual meeting of the ADB in Bali on May 2-5.

Unlike ADB, India has been wanting to increase its shareholding in the other multilateral organisations like the International Monetary Fund and the World Bank.

India has demanded at the G-20 summit that international institutions should be made more representative, reflecting the growing financial strength of financial economies.