Indranee Rajah on Singapore’s contribution to the International Development Association
Singapore will contribute up to US$87 million to help replenish the coffers of the International Development Association (IDA) for the next three years starting in July 2025. This is a 24 per cent increase from its previous contribution and a 10 per cent rise in its burden share. The IDA is the arm of the World Bank Group that offers concessional loans and grants to its least developed member nations. The next replenishment envelope will be the largest ever at US$100 billion, as agreed by donors. The money will go towards not only domestic development of beneficiaries but also climate mitigation efforts and preparedness for health emergencies, which will have positive spinoffs for the international community. Second Minister for Finance Indranee Rajah moved a motion on Singapore’s contribution which was passed in Parliament on Tuesday (Feb 4).
Singapore will contribute up to US$87 million to help replenish the coffers of the International Development Association (IDA) for the next three years starting in July 2025. This is a 24 per cent increase from its previous contribution and a 10 per cent rise in its burden share. The IDA is the arm of the World Bank Group that offers concessional loans and grants to its least developed member nations. The next replenishment envelope will be the largest ever at US$100 billion, as agreed by donors. The money will go towards not only domestic development of beneficiaries but also climate mitigation efforts and preparedness for health emergencies, which will have positive spinoffs for the international community. Second Minister for Finance Indranee Rajah moved a motion on Singapore’s contribution which was passed in Parliament on Tuesday (Feb 4).