Singapore continues to solidify its position as a global hub for financial innovation and regional collaboration through recent developments: the Green Investments Partnership (GIP) achieving its first close with US$510 million in committed capital and the reaffirmation of bilateral cooperation between the Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS).
These milestones underscore Singapore’s commitment to sustainable development and strengthening financial ties in Southeast Asia, aligning with its broader vision of fostering economic resilience and environmental sustainability.
On September 8, 2025, the Monetary Authority of Singapore announced that the Green Investments Partnership, a blended finance fund under the Financing Asia’s Transition Partnership (FAST-P) initiative, achieved its first close with US$510 million in committed capital.
This fund, managed by Pentagreen Capital—a sustainable infrastructure debt financing platform established by HSBC and Temasek—has attracted a diverse group of investors, including global and regional private, public, and philanthropic institutions.
Key contributors include the Australian Government via Export Finance Australia, the International Finance Corporation, the Dutch Entrepreneurial Development Bank (FMO), British International Investment, Bank of the Philippine Islands, Allied Climate Partners, and Temasek, with support from the European Commission under its Global Gateway program.
The GIP aims to deploy this capital into green and sustainable infrastructure projects across Southeast and South Asia, targeting sectors critical to the region’s energy transition, such as renewable energy, energy storage, electric vehicle infrastructure, sustainable transport, and water and waste management.
Launched by MAS in 2023, FAST-P addresses Asia’s climate finance gap by leveraging blended finance structures to mobilize capital at scale.
The GIP is the first of three FAST-P partnerships to reach this milestone, with the other two—the Industrial Transformation infrastructure debt program (ITP) and the Energy Transition Acceleration Finance partnership (ETAF)—focusing on decarbonizing hard-to-abate sectors and accelerating energy transition projects, respectively.
This achievement reflects Singapore’s strategic push to position itself as a hub for green finance.
By crowding in diverse capital sources, the GIP not only supports marginally bankable projects but also sets a precedent for collaborative financing models.
The UK’s pledge of up to £70 million to FAST-P, announced during a July 2025 visit by UK Foreign Secretary David Lammy, further strengthens this initiative, highlighting the global momentum behind Asia’s green transition.
As Deputy Prime Minister Gan Kim Yong noted, FAST-P’s network of like-minded partners is pivotal to mobilizing capital for a low-carbon future, reinforcing Singapore’s role in driving sustainable development across the region.
In addition to this recent update, on August 14, 2025, the Brunei Darussalam Central Bank (BDCB) and MAS reaffirmed their long-standing partnership at the fifth BDCB-MAS Bilateral Roundtable held in Brunei Darussalam.
This meeting marked a significant step in deepening financial cooperation between the two nations, with a focus on economic trends, payments connectivity, and financial stability.
A key outcome was the signing of a Memorandum of Understanding (MoU) by BDCB Managing Director Yang Mulia Hajah Rashidah binti Haji Sabtu and MAS Managing Director Chia Der Jiun to establish a reciprocal cross-border collateral arrangement (CBCA).
The CBCA allows both central banks to accept a wider range of collateral in their liquidity provisioning facilities, enhancing flexibility for financial institutions and bolstering financial stability across jurisdictions.
This arrangement builds on the enduring Currency Interchangeability Agreement (CIA), set to mark its 60th anniversary in 2027, which allows Brunei and Singapore to accept each other’s currencies at par.
Discussions at the roundtable also covered global and regional economic trends and advancements in cross-border payment systems, reflecting the shared commitment to financial integration in ASEAN.
This reaffirmation of ties follows a history of collaboration, including prior MoUs on banking, insurance supervision, and financial advancements.
By fostering policy dialogues and technical cooperation, Brunei and Singapore are strengthening their financial ecosystems, ensuring resilience amid global uncertainties.
These developments highlight Singapore’s focus on sustainability and regional cooperation.
The GIP’s US$510 million milestone positions Singapore as a key player in green finance, while the BDCB-MAS partnership reinforces financial stability and connectivity in ASEAN.
Together, they reflect a forward-looking strategy to address climate challenges and foster economic resilience, highlighting Singapore’s role as a global financial hub.