On 26 February 2020, Singapore's Infrastructure Asia and Denmark's Danida Sustainable Infrastructure Finance signed a Memorandum of Understanding (MoU) to boost the financing of sustainable infrastructure. #News #Insights
Singapore’s Infrastructure Asia and Denmark’s Danida Sustainable Infrastructure Finance today signed a Memorandum of Understanding (MoU) to boost the financing of sustainable infrastructure. With this MoU, Singapore and Denmark deepen their ties to enhance international collaboration and exchange best practices to structure green development projects in the region.
Witnessed by Denmark’s Minister for Environment, Lea Wermelin, during her official visit to Singapore, the MoU is a testament to both countries’ commitment to deliver on the United Nations Sustainable Development Goals (SDGs)[1]. The MoU combines the unique funding mechanisms of development projects offered by Danida, with the experience and reach of Infrastructure Asia in the region and will promote blended financing to catalyse private finance and support the advancement of infrastructure projects. It is expected to catalyse green financing in emerging Asian countries through deal facilitation and structuring.
“Singapore is a natural partner for Denmark in promoting sustainable infrastructure in Asia, given the city state’s strong focus on developing environmental governance and sustainable financing. I hope to see a collaboration between Danida Sustainable Infrastructure Finance and Infrastructure Asia contribute to catalysing green infrastructure developments in Asia, one of the fastest growing regions in the world, and to bringing Danish cleantech competencies into play,” says Ambassador of Denmark to Singapore, Dorte Bech Vizard.
“Singapore is a natural partner for Denmark in promoting sustainable infrastructure in Asia, given the city state’s strong focus on developing environmental governance and sustainable financing. I hope to see a collaboration between Danida Sustainable Infrastructure Finance and Infrastructure Asia contribute to catalysing green infrastructure developments in Asia”
“Infrastructure Asia welcomes this collaboration with Danida Sustainable Infrastructure Finance to better enable regional infrastructure development. We are happy to leverage solutions from Danida to create more bankable project opportunities, especially for Singapore-based companies as well as our international partners,” says Seth Tan, Executive Director, Infrastructure Asia.
With the formalization of this cooperation, both Infrastructure Asia and the Danish Embassy look forward to working together in supporting regional governments on their needs for climate-relevant, quality and sustainable infrastructure development.
About Danida Sustainable Infrastructure Finance Danida Sustainable Infrastructure Finance is a facility under the Danish Development Cooperation that provides access to finance for sustainable infrastructure in developing countries tied to transfer of technology and knowhow through Danish companies. Danida Sustainable Infrastructure Finance provides soft loans for funding of sustainable infrastructure projects in e.g. energy, water and sanitation, which cannot otherwise be financed on commercial terms in developing countries. The projects have to be sustainable and contribute to better framework conditions for sustainable growth and employment in line with the Sustainable Development Goals (SDGs).
About Infrastructure Asia Infrastructure Asia aims to support Asia’s social and economic growth through infrastructure development. Infrastructure Asia was established by Enterprise Singapore and Monetary Authority of Singapore to support infrastructure financing and development in the region. It does so through early project scoping, best practice sharing and brokering, harnessing Singapore’s best-in-class infrastructure ecosystem (international developers, engineering and professional services, along with financial institutions and multilateral development entities). It also works with global players in the regional infrastructure ecosystem and leverages the collective capabilities and networks of various government agencies to catalyse more trade and investments into infrastructure in the region.