MAS sets up grant scheme to encourage green loans

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Monetary Authority of Singapore

The Monetary Authority of Singapore

The Monetary Authority of Singapore has launched a scheme aiming to lower the costs of companies trying to obtain green financing, it announced on November 24.

The MAS initiative will pay part of the costs firms incur when they hire independent contractors to validate the green and sustainability credentials of the loan. The central bank will pay up to S$100,000 ($74,710) of these expenses per loan.

The scheme will also help banks to engage independent sustainability assessment and advisory

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