Things to Know About the World Bank

24 Mar


Let it be known that Singapore is helping developing countries to promote growth by increasing its World Bank subscription. The contribution of Singapore to IBRD (International Bank for Reconstruction and Development)will be increased from US $38.6 million to US $672 million. The statement was made by the Deputy Prime Minister Tharman Shanmugaratnam on January 21, 2014.

If you want to know more about World Bank, you can freely refer here.




IBRDWorld Bank was established in 1944. It was established in the hopes to recuperate from the ruins of World War II. The World Bank has 5 institutions or organs. IBRD is one of the 5 institutions. IBRD is created to back up poor and middle income developing countries that are credit worthy. IBRD only seeks to promote sustainable development.

Singapore’s Subscription
As mentioned earlier, IBRD backs up poor and middle income countries. The institution is organized like a cooperative. This cooperative is run for the advantage of its 187 member states. The institution exists to assist member states achieve sustainable development. Since its establishment, poor countries have made tremendous improvements in terms of governance and economics.

Singapore took a great step in increasing its IBRD. Since 1966, this is the first time the capital subscription has substantially increased. Singapore needs to contribute to the global effort. The subscription of US $672 million will help a lot in supplementing the World Bank’s reserve.

It is great to know the processes of World Bank. If you want to know more, you should go personally to World Bank’s page and look for more. It is everyone’s moral obligation to take part in the society. You can help the society in your own little ways.



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