{"id":120452,"date":"2021-02-17T02:02:14","date_gmt":"2021-02-16T19:02:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-to-issue-new-bonds-to-fund-major-infrastructure-projects\/"},"modified":"2021-02-17T11:30:01","modified_gmt":"2021-02-17T04:30:01","slug":"government-to-issue-new-bonds-to-fund-major-infrastructure-projects","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-to-issue-new-bonds-to-fund-major-infrastructure-projects\/","title":{"rendered":"Government to issue new bonds to fund major infrastructure projects"},"content":{"rendered":"


\nThese projects include new MRT lines as well as infrastructure that protect against rising sea levels.
\nDeputy Prime Minister Heng Swee Keat has revealed plans to issue new bonds to help the government finance major infrastructure projects that are crucial to the country\u2019s long-term development and sustainability, reported Channel News Asia (CNA).
\nThese projects include new MRT lines as well as infrastructure that protect against rising sea levels.
\nHeng, who is also the Finance Minister, said the bonds will come under a law to be tabled in Parliament later this year, which is known as the Significant Infrastructure Government Loan Act (SINGA).
\nRecommended article:\u00a0How Does Distance to MRT Affect Property Prices in Singapore?
\nHe noted that the bonds will allow for a fair and efficient way of distributing fiscal responsibility.
\n\u201cFair, because these payments are borne by the generations who will directly benefit from the improved infrastructure. Efficient, because they allow us to benefit from the current low interest rate environment,\u201d said Heng in his Budget speech on Tuesday (16 February) and quoted by CNA.
\nHe also assured that the proceeds from the SINGA bonds will be used in a prudent and transparent manner.
\nAs a safeguard, a $90 billion limit will be set for borrowing under SINGA \u201cbased on a pipeline of major, long-term infrastructure projects over the next 15 years\u201d.
\nSuggested read:\u00a0Did You Know: You May Not Be Eligible for a Full 90% HDB Loan
\n\u201cWe will also include other safeguards in legislation, which will be open to Parliamentary and public scrutiny. More details will be provided when the Bill is presented in Parliament later this year,\u201d he added.
\nHeng had shared in his previous Budget statements that the authorities were exploring the use of borrowing to fund major projects in a way that the costs will be spread out more equitably across generations.
\nThe government had been issuing bonds to help develop the domestic debt market and meet the retirement needs of Singaporeans via the Central Provident Fund.
\nMeanwhile, Heng said President Halimah Yacob has been briefed of the proposal and has given her in-principle support to use borrowing to fund major infrastructure.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
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\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Government to issue new bonds to fund major infrastructure projects<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

These projects include new MRT lines as well as infrastructure that protect against rising sea...<\/p>\n","protected":false},"author":1,"featured_media":120453,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-120452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/Jurong-East-MRT.jpg?fit=810%2C420&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vkM","jetpack-related-posts":[{"id":114746,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-to-invest-60bil-for-renewal-and-expansion-of-rail-network\/","url_meta":{"origin":120452,"position":0},"title":"Gov\u2019t to invest $60bil for renewal and expansion of rail network","date":"March 6, 2020","format":false,"excerpt":"\r These include the completion of the Thomson-East Coast Line, construction of Jurong Region Line and Cross Island Line (first phrase) as well as the renewal for both East-West and North-South MRT Lines.\u00a0 After experiencing several high-profile rail operations disruptions, the government will invest over $60 billion in the renewal\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119994,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/public-sector-projects-to-drive-construction-sectors-recovery\/","url_meta":{"origin":120452,"position":1},"title":"Public sector projects to drive construction sector\u2019s recovery","date":"January 19, 2021","format":false,"excerpt":"\r Public sector projects to drive construction sector\u2019s recoveryThe Cross Island MRT Line, relocation of Singapore Science Centre and the Toa Payoh Integrated Development are amongst the upcoming major public sector projects that will contribute to\u00a0construction demand in 2021. 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