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Singapore's potential IBRD contribution to rise to US$671.8m

This is a more than 17-fold hike from current amount

Published Tue, Jan 21, 2014 · 10:00 PM
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[SINGAPORE] Parliament has approved a move to increase Singapore's potential contribution to help promote growth in developing countries.

The Republic will increase its subscription to the International Bank for Reconstruction and Development (IBRD) to US$671.8 million, a more than 17-fold increase from the current amount of US$38.6 million.

One of the five member institutions of the World Bank, the Washington-based IBRD offers loans to middle-income developing nations.

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