Mister Wong, who is also Finance Minister, mentioned: “The ADB is a steadfast development companion for the region. Because the pandemic hit, ADB responded swiftly to meet the urgent funding of members in order to save lives and livelihoods.
“ADB’s Singapore office also made good progress in mobilising opportunities for private sector projects in building member countries regardless of the challenges posed with the pandemic. Singapore is usually glad to advance the close partnership with the ADB.
“This will enable us to focus on new plus innovative approaches to issues like climate alter and energy changes. This will also assist ensure shared success and more sustainable growth for the region. ”
Mr Asakawa called Singapore an “important partner” of the ADB in delivering investment to building member countries.
“Through this MOU, ADB and Singapore will continue to cooperate to support private field development projects that will contribute to the region’s infrastructure, financial, plus social needs, and help countries achieve their Sustainable Development Goal commitments, ” he added.
ADB’s Singapore workplace will play a main role in expanding 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, experts, financiers and other international financial institutions in Singapore.
Singapore was obviously a founding member of the ADB when the financial institution was established within 1966. It lent from ADB until 1980 and formally graduated from asking for in 1998.
Since 2001, Singapore has contributed to ADB’s concessional fund, the Asian Development Fund, as well as the Specialized Assistance Special Finance. Singapore is also the participant in the ASEAN Infrastructure Fund which is supported by ADB.