News

Singapore To Provide US$20.57 Million Grant To IMF To Help Vulnerable Countries

SINGAPORE, March 31 – Singapore intends to join international efforts to enhance the capacity of the International Monetary Fund (IMF) to assist vulnerable low income countries in dealing with the economic fallout from the COVID-19 pandemic.

According to the Monetary Authority of Singapore (MAS), Singapore is  to provide grants totalling US$20.57 million to the IMF’s Catastrophe Containment and Relief Trust; COVID-19 Crisis Capacity Development Initiative; and Trust for Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries.

The central bank said the grants will enable the IMF to support the surge in requests for financial assistance from these countries.

It is subject to Parliament’s approval on April 5, it said in a statement here.

MAS said the republic has a strong interest in supporting the global economic recovery from the ongoing COVID-19 pandemic.

“Alongside other member countries’ contributions, Singapore’s grant contributions in response to the IMF’s request also demonstrates our support for collective global action to help the most vulnerable countries,” it said.

Source: BERNAMA

Adib Mohd

Recent Posts

From Cookies to Classrooms: Starbucks Raises Over RM100K to Revive Centre for the Deaf

What if your sweet tooth could change lives? Since 2018, Starbucks Malaysia has raised over… Read More

1 day ago

Tous les Jours Expands in Malaysia with New Outlets at Sunway Pyramid and Sunway Velocity

Malaysian fans of delectable K-inspired baked goods will be delighted to hear that Tous Les… Read More

2 days ago

Stitch Lands in KL, Disney’s Blue Menace Takes Over Pavilion This School Holiday

Get ready for a school holiday filled with tropical vibes as Pavilion Kuala Lumpur transforms… Read More

2 days ago

Malaysia Gears Up for Southeast Asia’s First Smart City Expo, Here’s Why You Should Care

Kuala Lumpur just flipped the switch on something big. The 100-day countdown to Smart City… Read More

2 days ago

Ejen Ali: The Movie Review, A Next-Level Win for Malaysian Animation

Ejen Ali: The Movie 2 isn’t just a sequel, it’s a bold upgrade that proves… Read More

2 days ago

When Creativity Meets Comfort: LEGO® and IKEA Malaysia Reimagine Home Decor

When Creativity Meets Comfort: LEGO® and IKEA Malaysia Reimagine Home Decor With its latest collection… Read More

3 days ago

This website uses cookies.