Grants to IMF's Catastrophe Containment and Relief Trust
Ministry of DefenceSpeakers
Summary
This motion concerns the authorization for the Monetary Authority of Singapore to provide financial grants to the International Monetary Fund’s Catastrophe Containment and Relief Trust. Minister and Second Minister Ong Ye Kung moved this resolution on behalf of the Deputy Prime Minister and Minister in accordance with the Bretton Woods Agreements Act. The motion sets a maximum grant limit of 226,000 Special Drawing Rights, which is approximately 311,781 United States Dollars, to be provided under a bilateral agreement. These funds are designated to support the International Monetary Fund’s efforts in catastrophe containment and relief on behalf of the Government of Singapore. No Members of Parliament chose to speak following the introduction of the motion, and the House subsequently resolved to agree to the grant amount as proposed.
Transcript
The Minister for Education (Higher Education and Skills) and Second Minister for Defence (Mr Ong Ye Kung): Mdm Speaker, on behalf of the Deputy Prime 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 Catastrophe Containment and Relief Trust, is 226,000 Special Drawing Rights (approximately 311,781 United States Dollars)." Madam, I beg to move.
Mdm Speaker: Is there anyone who wishes to speak? No.
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 Catastrophe Containment and Relief Trust, is 226,000 Special Drawing Rights (approximately 311,781 United States Dollars)." – [Mr Ong Ye Kung]