Singapore has secured USD655 million to fund green and sustainable projects across South-east and South Asia.
The fund targets renewable energy, energy storage, electric vehicles, transport, water and waste management, particularly projects that struggle to secure traditional financing. The project uses a blended finance approach, combining public, private, and philanthropic capital to de-risk infrastructure investments. Its first funding pillar, the green investments partnership and has attracted contributions from Temasek, HSBC the Australian and European governments, IFC, British International Investment and others. Debt financing will support marginally bankable climate projects, especially during development and construction phases.