Singapore‘s central bank said on Monday it has secured $510 million in committed capital for a fund that would deploy the money to support green and sustainable infrastructure opportunities in Southeast and South Asia.
The Monetary Authority of Singapore said it secured funding from a number of regional players, including Asia-focused lender HSBC, the Australian government and Singapore‘s state-owned investor Temasek, among other parties.
The fund, named Green Investments Partnership, is part of Singapore‘s Financing Asia‘s Transition Partnership initiative launched by the central bank in 2023, and will look to support investments in sustainable transport, renewable energy and storage.
Pentagreen Capital, a sustainable infrastructure debt financing platform established by HSBC and Temasek, is serving as the fund manager.
“Pentagreen has brought together a diverse group of partners, which are participating across the different commercial and concessional tranches of the capital structure to de-risk and finance marginally bankable green infrastructure projects in the region,” said Gillian Tan, Assistant Managing Director (Development & International) and Chief Sustainability Officer at the central bank.
The initiative was launched in 2023 with commitments to deliver on multiple environmental and social targets, including meeting the region’s carbon reduction targets and creating jobs, among others.
Reuters
