Growth financing platform Choco Up has secured a $15-million credit facility from AlteriQ Global to expand financing for Singapore SMEs, while Infrastructure Asia has signed several MoUs to support sustainable infrastructure project development in the region.
Choco Up secures $15m credit facility from AlteriQ
Choco Up, a growth financing platform for small businesses, has secured a $15-million credit facility from private credit investment firm AlteriQ Global to expand its lending capacity for Singapore SMEs. The first drawdown under the facility has been completed, the company said in a statement.
The facility is expected to support around 500 Singapore SMEs through growth and working capital financing solutions.
Choco Up said demand for financing from Singapore SMEs has continued to rise, with financing applications increasing 85% year-on-year. “This partnership strengthens our ability to support entrepreneurs with financing solutions that help them act on opportunities with greater confidence and speed,” said Percy Hung, CEO and founder of Choco Up.
Choco Up said it has disbursed more than S$100 million to local businesses since its launch, supporting companies across sectors and growth stages.
AlteriQ Global managing director Zhi Yong Heng said SMEs remain a key driver of innovation, employment, and economic activity, but many continue to face challenges accessing capital that suits their growth needs. “SMEs remain one of the strongest drivers of innovation, employment, and economic activity, yet many continue to face challenges accessing capital that aligns with their growth journey,” said Yong Heng.
Infrastructure Asia signs MoUs
Infrastructure Asia announced on Tuesday (June 16) that it has signed four Memoranda of Understanding (MoUs) with regional and multilateral partners to help improve the bankability of sustainable infrastructure projects and unlock more private capital for the sector.
The agreements were signed with the Indonesia Infrastructure Guarantee Fund, the Public-Private Partnership Center of the Philippines, the Private Infrastructure Development Group, and the World Bank Group at the Asia Infrastructure Forum 2026.
The partnerships will focus on strengthening project preparation, structuring, and financing mechanisms, while giving Singapore’s infrastructure ecosystem visibility into upcoming priority projects across the region.
“The MoUs will deepen cooperation with regional and international stakeholders to improve project bankability and increase financing through innovative mechanisms to support sustainable infrastructure development,” the statement read.
Separately, the Hanoi Metropolitan Railway Management Board and Singapore Cooperation Enterprise signed an MoU to support urban transport development in Vietnam. Infrastructure Asia will support the collaboration through project development, technical advisory, and capacity-building initiatives.
Asia’s infrastructure needs continue to grow, as the development landscape becomes more complex and interconnected. Global estimates put infrastructure investment needs at about $106 trillion through 2040, with Asia accounting for roughly two-thirds of the total.
