The Monetary Authority of Singapore (MAS) has announced that the Green Investments Partnership (GIP), a blended finance fund under the Financing Asia’s Transition Partnership (FAST-P) initiative, has achieved its first close with US$510 million in committed capital. This capital, sourced from a mix of global and regional private, public, and philanthropic institutions, will be channelled into green and sustainable infrastructure projects across Southeast and South Asia.
The GIP is supported by a diverse group of investors, including the Australian Government, International Finance Corporation, Dutch Entrepreneurial Development Bank, HSBC, Temasek, and British International Investment. The European Commission also backs the initiative through its Global Gateway programme. Pentagreen Capital, a platform established by HSBC and Temasek, will manage the fund, focusing on sectors such as renewable energy, electric vehicle infrastructure, and sustainable transport.
Launched in 2023, FAST-P aims to address the climate finance gap in Asia by leveraging innovative blended and tiered capital structures. The initiative seeks to de-risk infrastructure investments, thereby attracting international investors to projects that have traditionally been seen as risky. Gillian Tan, MAS’s Assistant Managing Director, highlighted the significance of this milestone, stating, “Pentagreen has brought together a diverse group of partners to de-risk and finance marginally bankable green infrastructure projects in the region.”
The FAST-P initiative includes two other partnerships: the Industrial Transformation infrastructure debt programme and the Energy Transition Acceleration Finance partnership, both of which aim to further support Asia’s green transition.
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