“The initiative will draw on concessional capital to catalyse commercial capital from a range of partners, including multilateral development banks and philanthropists, in support of Asia's transition to net zero,” says Teo in his Dec 3 welcome address at the Singapore Pavilion’s two-day Green and Transition Finance programme.
Singapore will launch a new Asia-focused blended finance initiative, which aims to mobilise up to US$5 billion ($6.67 billion) for green and transition projects.
Senior Minister Teo Chee Hean says the government is prepared to contribute “catalytic capital” in support of the partnership, known as Financing Asia’s Transition Partnership, or Fast-P.
