MFA Press Statement: Visit by the President of the World Bank Robert Zoellick, 18 December 2008

The President of the World Bank Robert Zoellick will make an official visit to Singapore on 18 December 2008.

During his visit, Mr Zoellick will call on Prime Minister Lee Hsien Loong, Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew. Mr Zoellick and Minister for Foreign Affairs George Yeo will also sign a Memorandum of Understanding between Singapore and the International Bank for Reconstruction and Development, the International Development Association, and the International Finance Corporation.

Singapore and the World Bank Group enjoy long-standing and warm ties and have worked together since 1996. The MOU focuses on leveraging Singapore's developmental expertise to provide urban solutions for developing countries. It will strengthen and expand collaboration on development assistance between Singapore and the World Bank Group.

Under the MOU, a World Bank-Singapore Urban Hub will be set up to provide and facilitate the highest quality advice and technical assistance based on global best practices on urban challenges. Through joint research, training, capacity-building initiatives and project development, Singapore and the World Bank Group intend to play a positive and growing role in helping countries tackle critical policy challenges especially in the area of urban management.

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MINISTRY OF FOREIGN AFFAIRS
SINGAPORE
17 DECEMBER 2008