Singapore, US broaden infrastructure MOU

Singapore has renewed and further broadened a memorandum of understanding (MOU) with the United States to increase infrastructure cooperation, which now includes green and sustainable infrastructure projects in Asia.

The MOU between Infrastructure Asia in Singapore and the US International Development Finance Corporation (DFC) expands on a previous arrangement signed in 2019.

New approaches to activating and mobilizing private sector participation, such as a Clean Energy Roundtable with businesses from the US, Singapore, and Asia, will be investigated, according to a statement released by Singapore’s Ministry of Trade and Industry (MTI) and Infrastructure Asia on Tuesday (Mar 29).

Enterprise Singapore and the Monetary Authority of Singapore established Infrastructure Asia in 2018 to facilitate infrastructure funding and development throughout Asia.

On the fringes of Prime Minister Lee Hsien Loong’s bilateral visit to the United States from March 26 to April 2, MTI permanent secretary Gabriel Lim and DFC chief executive officer Scott Nathan signed the MOU on Tuesday morning in Washington, DC.