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Section: General News - World Bank Group President Robert B. Zoellick and Singapore Minister for Finance Tharman Shanmugaratnam today joined senior public and private sector leaders from Asia to launch an Infrastructure Finance Center of Excellence (IFCOE) to support regional governments in tapping private capital for infrastructure.
The launch comes at the World Bank-Singapore Infrastructure Finance Summit 2010, an annual event organized by the World Bank Group (WBG), the Singapore Ministry of Finance and the Monetary Authority of Singapore, in association with the Financial Times. The IFCOE is a specialized unit established under the World Bank-Singapore Urban Hub (Singapore Hub) in recognition of the strong demand for Singapore Hub services in the area of infrastructure finance.
The IFCOE is a timely initiative by the World Bank and Singapore to help unlock private sector investment in Asian infrastructure. It also reflects the growing partnership between Singapore and the World Bank, and our shared interest in supporting the region's development. Singapore looks forward to continued partnership with the World Bank in the years ahead, building on the strong foundations that we are laying, said Singapore Minister for Finance Mr Tharman Shanmugaratnam.
This initiative offers governments in the region practical, …