SINGAPORE, Nov. 11 (Xinhua) -- Singapore has launched an initiative to mobilize investment in strengthening climate resilience across Southeast Asia's agri-food systems, including a blended finance fund that aims to raise up to 500 million U.S. dollars.
The SPIRE Asia Program (Scaling Projects and Investments for Resilience in Asia) will combine data, project development and financing capabilities to turn climate resilience needs into investment-ready projects, according to a joint statement issued Tuesday by Singapore's National Climate Change Secretariat, Monetary Authority of Singapore and Enterprise Singapore.
The program has three pillars: a data platform, a market development facility and a blended finance fund.
It also aims to create opportunities for Singapore-based financial institutions, investors and agri-tech solution providers to participate in regional adaptation investments and expand their solutions, the statement said. ■