Singapore has signed a memorandum of understanding with the Global Infrastructure Hub (GIH), a G20 initiative to address the growing infrastructure gap worldwide and boost investment in projects.
Under the pact, the island city-state will provide financial assistance for GIH efforts in improving information sharing and collaboration among stakeholders, boosting domestic investment climates and projects in several countries and connecting investors with local infrastructure projects within a four-year mandate.
According to the Singaporean Ministry of Finance, these initiatives could include developing databases to facilitate capacity-building programmes and information access among GIH partners.
The newly formed affiliation is expected to help Singapore tap a substantial number of cooperation opportunities, consolidating its position as an Asian infrastructure hub.
Singapore is one of seven GIH partner countries - Australia, China, Mexico, New Zealand, the Republic of Korea, Saudi Arabia and the United Kingdom.-VNA
Under the pact, the island city-state will provide financial assistance for GIH efforts in improving information sharing and collaboration among stakeholders, boosting domestic investment climates and projects in several countries and connecting investors with local infrastructure projects within a four-year mandate.
According to the Singaporean Ministry of Finance, these initiatives could include developing databases to facilitate capacity-building programmes and information access among GIH partners.
The newly formed affiliation is expected to help Singapore tap a substantial number of cooperation opportunities, consolidating its position as an Asian infrastructure hub.
Singapore is one of seven GIH partner countries - Australia, China, Mexico, New Zealand, the Republic of Korea, Saudi Arabia and the United Kingdom.-VNA
