Lawrence Wong meets World Bank president, US trade representative

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WASHINGTON – Finance Minister Lawrence Wong mentioned the work of the World Bank in sustainable financing, amongst different issues, when he met World Bank Group president David Malpass and his senior administration group in Washington on Monday (April 18).

“There are many projects in Asia which need private financing and government support to get off the ground,” Mr Wong stated in a Facebook put up on Tuesday (April 19).

“Both Singapore and the World Bank have been active in this space. We discussed how the World Bank Singapore Hub can make use of our financial ecosystem to promote a greener recovery for the Asian region,” he added.

Mr Wong is within the United States for conferences with worldwide and American officers.

He will attend the World Bank-International Monetary Fund spring conferences, in addition to the second Finance Ministers and Central Bank Governors Meeting below the 2022 Group of 20 Indonesian presidency.

He was additionally introduced because the chief of the People’s Action Party’s fourth-generation group final week, a transfer that paves the best way for him to be Singapore’s subsequent prime minister.

Separately, Mr Wong additionally met US Trade Representative Katherine Tai, who had visited Singapore just lately.

“Trade is the lifeblood of Singapore – our trade with the world is about three times our GDP (gross domestic product),” he stated.

“We discussed new models of economic and trade cooperation, and the importance of deeper and more substantive US engagement in the region, via the Indo-Pacific Economic Framework.”

The framework is an initiative by the Biden administration to sign its dedication to interact international locations within the Asia-Pacific, and was additionally mentioned at a dialogue Mr Wong had on the Peterson Institute for International Economics think-tank in Washington on Monday.

He stated Singapore supported the framework as a platform for the US to interact Asia extra substantively and hoped it will stay open and inclusive.

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