SINGAPORE: The Istana announced on Monday, August 12, that President Tharman Shanmugaratnam will serve as co-chair of a new World Bank advisory council that will address the impending jobs crisis in the Global South.
The World Bank Group will receive advice and recommendations on policies and programs to address the issue from the council, which was established on Monday.
According to a news release from the Istana, it will bring together top specialists from the public and private sectors as well as from academia and civil society to “offer thought leadership and actionable strategies for creating large-scale employment opportunities.”
The World Bank Group will assess the developed strategies in order to pilot them with countries in real-world applications.” The World Bank Group invited Mr. Tharman and Michelle Bachelet, the former president of the Republic of Chile, to head the high-level advisory council on jobs for two years ending in July 2026.
Last year, the parliament approved a legal framework allowing the President and ministers to serve in private capacities in international organisations. According to this framework, when the Cabinet recommends that it is in the country’s best interests, the President and Ministers may carry out international duties.
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