Banking & Finance

MAS Green and Sustainability-Linked Loan Grant Scheme for Corporates and Banks Available from 1 January 2021

With effect from 1 January 2021, corporates which plan to obtain green and sustainable financing may apply under the Green and Sustainability-Linked Loan Grant Scheme ("GSLS") for a grant to defray the expenses of engaging independent service providers to validate the green and sustainability credentials of the loan. In addition, banks which plan to develop green and sustainability-linked loan frameworks may apply under the GSLS for co-funding of specified expenses of such frameworks.

Launched on 24 November 2020, the GSLS is the first of its kind globally that seeks to support the aim of the Monetary Authority of Singapore ("MAS") to develop green and sustainable financial markets and products to aid Asia's transition to a low-carbon future.

This Update provides a summary of the key features and eligibility criteria for the GSLS, one of the initiatives under the MAS' Green Finance Action Plan.