Singapore and UK Collaborate on Energy Transition and Sustainable Infrastructure Investments in Southeast Asia

• Singapore and the United Kingdom (UK) are partnering to accelerate clean energy transition and sustainable infrastructure across Southeast Asia
• UK pledges up to £70 million to support Singapore's FAST-P initiative to support clean energy transition and regional energy security

Singapore and London, 14 July 2025…Singapore and the United Kingdom (UK) announced a collaboration on 12 July 2025 to drive clean energy transition and advance the development of sustainable infrastructure across Southeast Asia. During his official visit to Singapore on 12 July 2025, the UK Secretary of State for Foreign, Commonwealth and Development Affairs, David Lammy, announced a landmark pledge of up to £70 million to Singapore's Financing Asia's Transition Partnership (FAST-P) initiative, as part of the collaboration.

2 This announcement comes as the UK marks 60 years of diplomatic relations with Singapore - a strategic partnership built on shared interests, mutual respect, and a commitment to security and prosperity in the Indo-Pacific.

3 The UK's funding, to be delivered through British International Investment (BII), will deploy investment capital and provide blended finance to support low-carbon energy projects and innovative business models, bolstering energy security and climate resilience. This significant move marks a major step forward in the UK-Singapore Strategic Partnership and reflects both countries' commitment to support Asia's green energy transition and sustainable development.

4 The UK and Singapore are working together to accelerate sustainable infrastructure and investment across the region. This includes supporting early-stage project development through joint technical assistance and encouraging private sector involvement, with a focus on practical solutions to help countries transition to cleaner energy.

5 By actively participating in the FAST-P initiative, alongside Singapore and other international partners, the UK is helping to mobilise critical capital and close infrastructure financing gaps.

6 Gan Kim Yong, Deputy Prime Minister of Singapore, Minister for Trade and Industry and Chairman of the Monetary Authority of Singapore (MAS), said, "We are delighted to welcome the UK to join the FAST-P initiative. FAST-P has gathered a network of like-minded, global public, private and philanthropic partners, coming together to mobilise capital for a common goal - Asia's transition. We look forward to closer collaboration with our key partners on the FAST-P journey."

7 David Lammy, UK Secretary of State for Foreign, Commonwealth and Development Affairs, said, "This year, the UK and Singapore mark 60 years of diplomatic relations. ASEAN is set to be the fastest-growing economic bloc this decade. We need to keep investing in our friendships, making them resilient and focused on the future."

8 Srini Nagarajan, Managing Director and Head of Asia, BII, said, "As the UK's development finance institution, we have a specific mandate to support Southeast Asia's green energy transition. We look forward to deepening our collaboration with the Monetary Authority of Singapore on FAST-P. This is an important partnership in our plan to deliver our commitment of accelerating the development of climate projects and mobilising private capital in the region."

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About the Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) is Singapore's central bank and integrated financial regulator. As a central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore's exchange rate, official foreign reserves, and liquidity in the banking sector. As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore - banks, insurers, capital market intermediaries, financial advisors and financial market infrastructure. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to foster the growth of Singapore as an international financial centre.

About British International Investment
British International Investment is the UK's development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people's lives and help protect the planet. BII's work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII's total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women's economic development. The company has investments in over 1,600 businesses across 70 countries and total net assets of £9.87 billion.

About Financing Asia's Transition Partnership
The Financing Asia's Transition Partnership ("FAST-P"), a Singapore-led blended finance initiative in collaboration with key global public, private and philanthropic partners, aims to mobilise up to US$5 billion to de-risk and finance transition and marginally bankable green projects in Asia. The Singapore Government will pledge up to US$500 million as concessional capital, to match dollar-for-dollar, concessional capital from other partners, including other governments, multilateral development finance institutions and philanthropies. This combined pool of concessional capital will be used to crowd in commercial capital and other sources of finance to support Asia's green energy transition.