Singapore extends ESG loan facility to banks, FIs

Since being launched in April 2020 it has disbursed S$13.3b to FIs in support.

The Monetary Authority of Singapore (MAS) is further extending the MAS Singapore Dollar (SGD) Facility for Enterprise Singapore (ESG) loans until 31 March 2022.

The facility provides SGD funding at an interest rate of 0.1%  per annum for a two-year tenor to eligible financial institutions (FIs) to support loans made under the ESG Loan Schemes from 1 October 2021 to 31 March 2022.

Since its introduction in April last year, the facility has reportedly disbursed a total of S$13.3b to FIs in support of their lending companies, Singapore’s regulator revealed.

This marks the facility’s second extension. In October 2020, MAS announced its first extension, which was until 31 September 2021.

The extension complements the six-month extension of Enterprise Singapore’s Temporary Bridging Loan Programme over the same period.