Mister Wong, who is also Finance Minister, stated: “The ADB has been a steadfast development partner for the region. Since the pandemic hit, ADB responded swiftly to meet the urgent financing of members to save lives and livelihoods.
“ADB’s Singapore office furthermore made good progress in mobilising assets for private sector projects in creating member countries despite the challenges posed by pandemic. Singapore can be glad to advance the close partnership using the ADB.
“This will enable us to focus on new and innovative approaches to issues like climate modify and energy changes. This will also assist ensure shared prosperity and more sustainable growth for the region. ”
Mr Asakawa called Singapore a good “important partner” of the ADB in delivering investment to establishing member countries.
“Through this MOU, ADB and Singapore will continue to cooperate to support private sector development projects that will contribute to the region’s infrastructure, financial, plus social needs, and help countries accomplish their Sustainable Advancement Goal commitments, ” he added.
ADB’s Singapore workplace will play a main role in growing cooperation under this MOU. It will deepen ADB’s engagement using the Singapore Government plus assist in connecting along with knowledge partners, task sponsors, contractors, advisors, financiers and other international financial institutions in Singapore.
Singapore was a founding member of the particular ADB when the bank was established within 1966. It lent from ADB until 1980 and officially graduated from asking for in 1998.
Since 2001, Singapore has contributed in order to ADB’s concessional finance, the Asian Advancement Fund, as well as the Technical Assistance Special Account. Singapore is also a participant in the ASEAN Infrastructure Fund which is supported by ADB.