Singapore has approved a massive expansion of financial supports for children in hopes of averting a looming demographic catastrophe.

The Asian city-state’s fertility rate is just 0.86 and falling, well below the replacement figure of 2.1 that is needed for a population to simply sustain itself.

The new scheme will direct 70,000 Singapore dollars (about 47,000 euros) worth of aid over the course of a child’s lifetime.

Parents will receive a lump sum upon the birth of each child; annual payments for expenses; contributions to health and education schemes, and to a children’s savings account; and a lump sum for higher education costs, upon reaching 17.

There will also be more parental leave, cheaper nurseries and extra advantages in the public housing lotteries.

Unlike previous schemes, this new one will be available to all children, regardless of the parents’ marital status. Nonetheless, the Government affirmed that the traditional family unit “remains the prevailing social norm in Singapore”.

“The government’s longstanding position has been to support parenthood within marriage. This continues to be the case and there is no shift in thinking on this”.