Foreign Educational Institutions Receiving Financial Incentives from EDB
- Mary Liew asked about the number of foreign educational institutions that received financial incentives from EDB, the total amount offered, and whether there was recourse for failed ventures.
- Lim Hng Kiang stated that since 1999, EDB provided $73 million in grants and $172 million in loans to 11 foreign educational institutions, with support calibrated to expected benefits for Singapore.
- EDB monitors institutions through regular reviews and financial statements, and may require grant returns based on progress and contributions if an institution terminates operations.
- All loans must be repaid regardless of whether an institution stays or leaves Singapore.