UOB expands its Green Infrastructure Financing Framework

Thursday 26 November 2020 14:05 CET | News

Singapore-based UOB has announced the expansion of its Green Infrastructure Financing Framework to provide sustainable financing to companies in the infrastructure sector.

Supported by the Monetary Authority of Singapore’s Green and Sustainability-Linked Loan Grant Scheme, the framework will make financing more accessible to companies contributing to the creation of smart cities. The framework is also meant to support the sustainability efforts of more companies from various sectors, working with them closely for the development of sustainable and smart cities.

Under the framework, companies can apply for sustainable financing without having to develop their own financing framework. The UOB Smart City Sustainable Finance Framework (UOBSCSFF) sets out criteria the bank’s corporate and institutional clients must meet when accessing a range of products, from green or sustainability-linked loans and trade finance facilities to other sustainable banking products. UOB said it will monitor the company’s management of loan proceeds and the environmental and social impact of its business activities on an annual basis.

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Keywords: UOB, Green Infrastructure Financing Framework, SCF, Monetary Authority of Singapore, Loan Grant Scheme, sustainable financing, trade finance, banking
Categories: Banking & Fintech
Countries: Singapore
This article is part of category

Banking & Fintech