An honorable member of the Coffee Shop Has Just Posted the Following:
Can budget for this and not enough for our hospital beds, I don't quite understand all this high finance.
http://www.straitstimes.com/breaking...illion-2014012
By Chia Yan Min
The amount that Singapore could potentially contribute to help promote growth in developing countries has increased substantially.
Singapore's subscription to the International Bank for Reconstruction and Development (IBRD) - the main arm of the World Bank that supports middle-income and poorer countries - will be raised from US$38.6 million to about US$672 million, as part of a move by the IBRD to increase its overall capital by US$86.2 billion.
Of this new fee for Singapore, US$38 million, or about 6 per cent, will be paid out from the Government Budget set last year, said Deputy Prime Minister Tharman Shanmugaratnam on Tuesday, as he sought Parliament's approval for the increase.
The remainder, known as callable capital, will not be drawn by the IBRD except in extreme circumstances, when it cannot meet its obligations on borrowings or guarantees.
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22-01-2014, 05:10 AM
S'pore contributes US$672 million to World Bank
