MAS to establish office for Financing Asia’s Transition Partnership

The office will deploy up to $$647m in concessional capital.

The Monetary Authority of Singapore (MAS) has announced plans to establish an office for the Financing Asia’s Transition Partnership (FAST-P).

The office will facilitate the deployment of up to $64.7m (US$50m) in concessional funding from the government, which will be directed into three FAST-P partnerships alongside investments from other partners.

“The office will continue to work closely with asset managers, banks, and commercial and concessional investors to promote innovative blended finance solutions for sustainable infrastructure in the region,” said Chia Der Jiun, managing director of MAS, in his opening address at the FAST Conference.

Launched in late 2023, the FAST-P initiative aims to raise as much as $6.5b (US$5b) to support decarbonisation and climate resilience efforts in Asia.

The Green Investment Partnership under FAST-P, managed by Pentagreen Capital, is preparing to deploy capital soon for marginally bankable clean energy infrastructure in Asia.

($1 = US$0.77)