Bank of the People Montreal in 1840. Until 1835, every bank in Upper Canada required a legislated charter which established it as a legal person able to sue, and be sued at law. Only two Banks had been chartered: the Bank of Upper Canada and the Commercial Bank of the Midland District. Both banks were controlled by the "Family Compact" who used their control of the currency supply and credit to control trade and ultimately, the farmers. They had a "licensed monopoly" to print paper money, which reduced competition. In 1835, Dr Charles Duncombe, a Reform politician in the Legislative Assembly, was part of
Singapore and the World Bank Singapore and the World Bank Singapore officially joined the International Bank for Reconstruction and Development (IBRD) on August 3, 1966 after Singapore's independence from Malaysia. By 1975, Singapore received 14 total loans from the World Bank, 10 of these loans were used exclusively for infrastructure projects. Currently, Singapore is a member of World Bank Group Institutions including International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), International Development Association (IDA), and the International Centre of Settlement of Investment Disputes (ICSID). The first infrastructure project was the expansion of the Jurong Harbour in Singapore.