Singapore’s Project Finance Company
The Government of Singapore is addressing the country’s restricted capacity for big ticket and long-tenure project financing needs in cross-border financing. To address the issue, the Government of Singapore is pushing for the creation of the Project Finance Corporation (PFC). The PFC is expected to be operational in the latter half of 2012 and will be backed by a number of stable financial institutions, including Temasek Holdings. The PFC will also include Japan’s Sumitomo Mitsui Banking Corporation, Standard Chartered Bank PLC, and Singapore DBS Group Holdings Ltd.
Ultimately, the goal of the proposed PFC is to plugs gaps in the financing of larger, long-tenure overseas projects.
From a sovereign wealth fund investor (SWF) standpoint, this is a strategic endeavor for Singapore. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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