Singapore commits US$500M for Asia-wide decarbonization efforts

The fund will be used to raise US$5b to support green transition in Asia.

Singapore has pledged up to US$500m to support decarbonization across Asia as part of the Financing Asia’s Transition Partnership (FAST-P).

The fund, along with concessional capital from other partners, will be used to crowd in commercial capital and other sources of finance to support Asia’s green transition and raise up to US$5b to support Asia’s green and transition financing needs.

The initiative will focus on projects in hard-to-abate sectors, low-carbon technology, and sustainable industrial opportunities.

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