Singapore Central Bank secures $510 Million to support green infrastructure in Asia

Singapore's central banks announced on Monday that it had secured $510m in committed capital to be used for a fund which would support green infrastructure in Southeast Asia and South Asia.

The Monetary Authority of Singapore announced that it had secured funding from a variety of regional players including Asia-focused lender HSBC, the Australian Government and Singapore's State-owned Investor Temasek.

Green Investments Partnership is a fund that will support sustainable transportation, renewable energy, and storage. It's part of the Financing Asia Transition Partnership initiative, launched by Singapore's central bank in 2023.

The fund is managed by Pentagreen Capital. This platform for sustainable infrastructure debt financing was established by HSBC & Temasek.

"Pentagreen brought together a variety of partners who are participating in different commercial and concessional tranches within the capital structure, to de-risk, and finance marginally viable green infrastructure projects across the region," stated Gillian Tan Assistant Managing Director Development & International and Chief Sustainability Officer of the central bank.

(Reporting by Shivangi Lahiri in Bengalur) (Reporting by Shivangi Lahiri in Bengaluru)

(source: Reuters)