Singapore, partner to raise $5 billion to support Asia’s climate goals
Singapore plans to raise $ 5 billion along with its international partners that will help finance climate initiatives in Asia, the Monetary Authority of Singapore said on Wednesday.
The initiative, called ‘Financing Asia’s Transition Partnership,’ will use a combination of public and private sector funding in flexible concessions through a blended financial platform to help projects become less risky and more appealing for large-scale investment.
The Singapore Central Bank drew a similarity of the initiative to the $30 billion climate-focused fund launched at the COP28 summit last year, which seeks to mobilize USD 250 billion by 2030 for climate change action.
However, the names of the international partners or specific projects that could receive funds were not disclosed.
Quote of the Day
No quotes found.
Newsletter
Related News