Connecting Today, Building for Tomorrow

At the virtual 5th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) this evening, I highlighted the immense potential of sustainable and digital infrastructure in shaping economic recovery.

Singapore is well positioned to work with the AIIB to support the region.

First, as public resources are diverted for the COVID-19 response, private sector capital raising becomes even more important.

As a regional financial hub, we will continue to partner Multilateral Development Banks (MDBs) to develop newer combinations of financing and tools to increase the investability of infrastructure projects. For example, Clifford Capital worked with the AIIB to establish Bayfront Infrastructure Management in April to recycle capital for infrastructure financing.

Infrastructure Asia and the Asian Development Bank also launched the Innovative Finance Lab for Sustainable Infrastructure last October to help governments in Southeast Asia develop innovative, sustainable and bankable infrastructure projects in the region.

Second, being home to a comprehensive infrastructure ecosystem, Singapore can connect regional governments to solution providers, professional advisors, institutional partners and investors. Two months ago, Infrastructure Asia collaborated with the World Bank Group to jointly develop the Growing Infrastructure Programme to train senior and mid-level regional government officials involved in project preparation. This will harness the expertise of the public sector and MDBs to build regional capacity and develop best-in-class infrastructure solutions for the region’s growth.

These collaborations not only increase infrastructure opportunities out of Singapore, but also potentially create good job opportunities within Singapore.