Singapore will contribute more than $27 million in grants to help low-income countries affected by COVID-19. A motion was passed in Parliament to channel the funds via the International Monetary Fund. Majority of the contribution will go to the IMF’s Catastrophe Containment and Relief Trust to help strengthen healthcare systems in low-income countries. More than $2.5 million will go towards the Crisis Capacity Development Initiative. The remaining funds will go to an IMF financing package for Somalia’s debt relief.
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