The Monetary Authority of Singapore (MAS) announced that the Green Investments Partnership (GIP), a blended finance partnership under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative, has achieved its first close with USD 510 million of committed capital. The capital is intended for green and sustainable infrastructure investments in Southeast and South Asia. MAS is among the investors and financiers, alongside Export Finance Australia, International Finance Corporation, the Dutch Entrepreneurial Development Bank (FMO), HSBC, Temasek, British International Investment, Bank of the Philippine Islands and Allied Climate Partners, with support from the European Commission under its Global Gateway programme. Pentagreen Capital, the sustainable infrastructure debt financing platform established by HSBC and Temasek, will manage the fund, which is expected to provide debt financing for climate-related, marginally bankable sustainable infrastructure across sectors including renewable energy and storage, electric vehicle infrastructure, sustainable transport, and water and waste management. FAST-P was launched by MAS in 2023 to mobilise public, private and philanthropic capital for Asia’s transition, using blended and tiered capital structures to de-risk infrastructure investments. MAS also highlighted two other FAST-P partnerships, the Industrial Transformation infrastructure debt programme and the Energy Transition Acceleration Finance partnership, which are intended to support decarbonisation financing for private-sector borrowers and energy transition projects including coal asset retirement, renewables and grid modernisation.

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