Grant to IMF's Crisis Capacity Development Initiative

6.48 pm

The Minister for Transport (Mr Ong Ye Kung): Mr Deputy Speaker, Sir, on behalf of Senior Minister and Minister in Charge of the Monetary Authority of Singapore, I beg to move, "That this Parliament, in accordance with section 6A(2)(d) of the Bretton Woods Agreements Act (Chapter 27 of the 2012 Revised Edition), resolves that the maximum amount of grants that the Monetary Authority of Singapore may give under the bilateral agreement (or its subsequent variations) to be made by the Monetary Authority of Singapore (on behalf of the Government of the Republic of Singapore) with the International Monetary Fund to support the Crisis Capacity Development Initiative, is 2,000,000 United States Dollars (approximately 1,400,000 Special Drawing Rights)." Mr Deputy Speaker, I beg to move.

Question put, and agreed to.

Resolved, "That this Parliament, in accordance with section 6A(2)(d) of the Bretton Woods Agreements Act (Chapter 27 of the 2012 Revised Edition), resolves that the maximum amount of grants that the Monetary Authority of Singapore may give under the bilateral agreement (or its subsequent variations) to be made by the Monetary Authority of Singapore (on behalf of the Government of the Republic of Singapore) with the International Monetary Fund to support the Crisis Capacity Development Initiative, is 2,000,000 United States Dollars (approximately 1,400,000 Special Drawing Rights)." – [Mr Ong Ye Kung]