The Monetary Authority of Singapore (MAS) announced that the Green Investments Partnership (GIP), a blended finance fund under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative, has achieved its first close with US$510 million in committed capital. This funding, contributed by a mix of global and regional private, public, and philanthropic institutions, will be deployed into green and sustainable infrastructure projects across Southeast and South Asia, targeting a strong pipeline of climate-focused transactions.
MAS is among the key investors in GIP, alongside organizations such as the Australian Government via Export Finance Australia, the International Finance Corporation, Dutch Entrepreneurial Development Bank (FMO), HSBC, Temasek, British International Investment, Bank of the Philippine Islands, and Allied Climate Partners. The European Commission is also supporting the fund under its Global Gateway programme.
Pentagreen Capital, the sustainable infrastructure debt financing platform established by HSBC and Temasek, serves as the fund manager for GIP. The partnership will finance projects in renewable energy and storage, electric vehicle infrastructure, sustainable transport, water and waste management, and other critical sectors necessary for the energy transition in Southeast and South Asia.
Launched in 2023, FAST-P pools public, private, and philanthropic capital to support Asia’s green transition. GIP is the first fund under this initiative to reach a first close, combining concessional and commercial capital from governments, development financial institutions, philanthropies, banks, and private investors. The fund will primarily deploy debt financing for climate-related sustainable infrastructure that is marginally bankable and traditionally faces financing challenges.
FAST-P, through GIP and its other partnerships, aims to address the region’s climate finance gap using innovative blended and tiered capital structures. By de-risking infrastructure projects, particularly during development and construction phases, FAST-P intends to unlock capital for sustainable initiatives that have historically struggled to attract investment.
Gillian Tan, MAS Assistant Managing Director and Chief Sustainability Officer, described the first close of GIP as a significant milestone, highlighting Pentagreen’s role in bringing together a diverse set of partners to de-risk green infrastructure investments. Munib Madni, CEO of the FAST-P Office, expressed gratitude to all partners for their commitment and emphasized the ongoing efforts to promote blended finance solutions for sustainable infrastructure in Southeast and South Asia.
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