Funding has been boosted for the development of green technologies by companies in Singapore with the launch of the ‘Enterprise Financing Scheme-Green’, by Enterprise Singapore, for firms that develop solutions to reduce waste, resource use and greenhouse gas emissions. It will support financial institutions in lending funds to firms by undertaking risk sharing of 70 per cent. The scheme, launched on October 1, 2021, will last till March 31, 2024.
The funds will be provided to clean energy, circular economy, green infrastructure, and clean transportation sectors. The scheme will also assist with a range of financing requirements, that include developmental capital, fixed assets, trade, project, venture debt and mergers & acquisition.