The Monetary Authority of Singapore (MAS) announced today that it will further extend the MAS SGD Facility for ESG Loans
2 The Facility will continue to provide Singapore Dollar (SGD) funding at an interest rate of 0.1% per annum for a two-year tenor to eligible financial institutions
3 Since its introduction in April 2020, the Facility has disbursed a total of S$13.3 billion to EFIs in support of their lending to companies under the ESG Loan Schemes. Collectively, the Government’s risk sharing through the ESG Loan Schemes and MAS’ lower-cost funding through the Facility will continue to keep borrowing costs low for local enterprises, as they recover and adapt to the new normal.
[1] The Facility was established on 20 April 2020. On 12 October 2020, MAS announced an extension to complement the six-month extension of ESG’s TBLP to 30 September 2021.
[2] The TBLP was introduced in March 2020 for a year to help companies access working capital for their business needs during the COVID-19 crisis. On 12 October 2020 , ESG extended the TBLP and on 5 July 2021 , ESG announced a further extension to 31 March 2022.
[3] Banks and finance companies participating in the ESG Loan Schemes, which refer to the TBLP and the Enterprise Financing Scheme – SME Working Capital Loan, are eligible to tap on the Facility.
