Singapore, US sign deal on infrastructure finance, market building

Singapore and the US signed an agreement to strengthen cooperation in infrastructure finance and debt market development in Washington DC on October 16.

Thursday, October 17, 2019 11:26

Singapore, US sign deal on infrastructure finance, market building ảnh 1

The agreement is signed in Washington, DC, by Singaporean Minister in the Prime Minister's Office Indranee Rajah and US Deputy Treasury Secretary Justin Muzinich. (Photo: Singaporean Ministry of Finance)

Singapore (VNA) – Singapore and the US signed anagreement to strengthen cooperation in infrastructure finance and debt marketdevelopment in Washington DC on October 16.

The deal signing took place on the sidelines of the G-20Finance Ministers' and Central Bank Governors' Meeting, and annual meetings ofthe International Monetary Fund and the World Bank Group.

A statement from the Singaporean Ministry of Finance saidthe pact builds on broader cooperation between the two countries to facilitatetechnical exchanges and information sharing, support infrastructure developmentin Southeast Asia and promote investment in private sector.

Singapore also inked five other pacts during the AsiaInfrastructure Forum held in the first week of October. These includedagreements with Cambodia's Ministry of Economy and Finance on sewage and wastewater treatment; with Indonesia's Sarana Multi Infrastruktur on public-privatepartnership (PPP) capacity building; and with the Philippines’ PPP Centre todevelop and implement projects.

The Global Infrastructure Hub has estimated that developingAsia require 51 trillion USD in infrastructure investment through2040 to maintain its current growth momentum./.

VNA

#Singapore and the US #infrastructure finance #debt market development #G-20 Finance Ministers' and Central Bank Governors' Meeting #Singaporean Ministry of Finance #Asia Infrastructure Forum #Vietnam news agency #vietnamplus Singapore

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