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BlackRock and MAS to launch debt program for decarbonization projects in SEA

They seek to raise around US$5b from public and private sources.

BlackRock, the Monetary Authority of Singapore (MAS), the International Finance Corporation (IFC), Mitsubishi UFJ Financial Group (MUFG), Nippon Export and Investment Insurance (NEXI), and AIA Group have signed an agreement to create an infrastructure debt program to support decarbonization projects across Southeast Asia.

The Industrial Transformation infrastructure debt program seeks to raise around US$5b from public, private, and philanthropic sources to finance transition projects in the region.

Under the agreement, the parties will explore ways to provide debt financing to private-sector borrowers working to reduce carbon emissions.

They will focus on projects in (a) hard-to-abate sectors, (b) technology for low-carbon solutions, and (c) industrial opportunities.
 

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