Singapore’s Monetary Authority of Singapore (MAS) has announced the first close of its Green Investments Partnership (GIP), raising US$510 million (S$655.7 million) to support sustainable infrastructure projects in South-east and South Asia [1][2].

The GIP is the inaugural fund under the Financing Asia’s Transition Partnership (FAST-P), a blended finance initiative launched in 2023. FAST-P aims to mobilise up to US$5 billion by combining public, private and philanthropic capital to accelerate Asia’s green transition [1]. The fund will channel debt financing into climate-related but marginally bankable projects, such as renewable energy and storage, electric vehicle infrastructure, sustainable transport, and water and waste management [1][2].

Investors in the fund include a wide array of global and regional stakeholders: Temasek, HSBC, the International Finance Corporation, the Dutch Entrepreneurial Development Bank (FMO), British International Investment, Bank of the Philippine Islands, and Allied Climate Partners. Governmental bodies such as Export Finance Australia and the European Commission, through its Global Gateway programme, are also backing the initiative [1][2].

Pentagreen Capital, a debt financing platform established by HSBC and Temasek in 2022, will manage the GIP. Its role is to de-risk projects with higher perceived risks, thereby attracting greater private sector participation [2]. According to MAS, the tiered capital structure of FAST-P is designed to crowd in investment at scale for sectors that often struggle to secure financing, particularly during development and construction phases [1].

Experts highlight that the fund addresses urgent financing needs across the region, from electric mobility in Indonesia and Thailand to power grid modernisation in India and Sri Lanka [1]. As Gillian Tan, Assistant Managing Director and Chief Sustainability Officer of MAS, stated: “The first close of the Green Investments Partnership is an important milestone for FAST-P,” underscoring its role in scaling blended finance for Asia’s transition [2].

Références
[1] The Straits Times. Singapore closes $655 million to fund green and sustainable projects in South-east and South Asia. https://www.straitstimes.com/singapore/environment/spore-closes-655-million-to-fund-green-and-sustainable-projects-in-south-east-and-south-asia
[2] ESG Today. Singapore Raises Over $500 Million for Green Infrastructure Blended Finance Fund. https://www.esgtoday.com/singapore-raises-over-500-million-for-green-infrastructure-blended-finance-fund/