Singapore is set to issue its first sovereign green bond as part of an environment-focused financing plan to issue up to S$35bn ($26bn) in green bonds by 2030 to fund public sector green infrastructure projects.. In 2021, Singapore announced plans to raise S$19bn in green debt during the period and the current number is a sharp increase. As per IFR, Singapore’s green bond framework from the Ministry of Finance’s newly established green bonds program office will be published this year. The announcement came in Singapore’s budget in February 18. Finance Minister Lawrence Wong said that Singapore now accounts for about half of the ASEAN green bond and loan market.
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