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Singapore officially joined the International Bank for Reconstruction and Development (IBRD) on August 3, 1966 [1] after Singapore's independence from Malaysia. By 1975, Singapore received 14 total loans from the World Bank, 10 of these loans were used exclusively for infrastructure projects.
The World Bank Scholarship programme began in 1982. Students are able to undertake graduate studies in subjects related to economic development. There are two kinds of scholarship currently available on a very competitive basis: 1.
The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American. [12] The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
The Lee Foundation was established in March 1952 with a funding of $3.5 million from business magnate Lee Kong Chian. Lee had been donating to schools like Kuo Chuan Girls' School, Nan Chiau Girls' High School, Chinese High School, Methodist Girls' School, St Margaret's School, Singapore Chinese Girls' School, Anglo Chinese School (ACS), the University of Malaya and Nanyang University.
During World War II, many students in Singapore dropped out of school, causing a huge backlog of students after the war. [17] In 1947, the Ten Years Programme for Education Policy in the Colony of Singapore was formulated. [17] This called for a universal education system that would prepare for self-governance. [17]
Between 2004 and 2013, the World Bank committed to lend or give at least $338 billion, according to bank data. Its private-lending affiliate, the International Finance Corporation, committed to invest at least $116 billion during the same period in corporations and other banks in pursuit of the overall goal of alleviating poverty.
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Temasek Foundation International is a Singapore-based non-profit organisation under the philanthropic arm of the Singapore state sovereign fund Temasek Holdings. Temasek has established 17 endowments since 1974, focused on promoting social and cultural interaction, education, and aid for the disadvantaged in Asia.