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Singapore Grant available for ESG

Many governments throughout the globe welcome foreign investment. This is accomplished in a variety of ways, including the creation of favorable legislation to improve the ease of doing business and the maintenance of government stability. Another prominent method is to provide grants and assistance to businesses seeking to enter a new overseas market. The premise of this piece will be the details of Enterprise Singapore’s offerings to businesses interested in expanding to or investing in Singapore. Enterprise Singapore is a statutory board under Singapore’s Ministry of Trade and Industry.

The Enterprise Singapore (ESG) Enterprise Development Grant (EDG)

This grant was announced in the 2018 Budget. In short, EDG is a grant to help local small businesses (small businesses) grow and transform their businesses.

 

Visit ESG’s webpage for the full application process.

 

Eligible Issuer:

 

To qualify, you must

 

1. Have a registered company and operate in Singapore

 

2. Have at least 30% local equity ownership

 

3. Be in a financially viable position to initiate and complete the project.

 

And if you come from a large organization, your organization or group company

 

1. Have an income of less than S$100 million

 

2. The number of employees is less than her 200.

 

Funded: Get up to 80% funding. This 80% support level applies to the retail and F&B sectors. Support for other sectors is 70%. Applications must be submitted by March 31, 2023. From 1 April 2023, the funding rate will drop to 50%. The only exception is sustainability projects, which receive 70% funding. If you apply before March 31, 2023 and your application is approved, you will continue to receive increased support levels up to 80%.

SME Grant Programme by DBS Bank

Small and medium enterprises (SMEs) form the backbone of many economies in Asia, providing important jobs and contributing significantly to the region’s GDP. Recognizing this opportunity, the DBS Foundation has introduced a new category in its leading grant program to empower and enable small businesses to do business with social and environmental impact.

 

 

 

Visit DBS’s webpage for the full application process.

 

SMEs must be registered as legal entities in Singapore, Indonesia, India, Hong Kong, and Taiwan. No minimum local participation is required.

 

Funded: Award grants of up to S$ 100,000 to enable SMEs to implement more sustainable solutions and track and measure their impact.

 

Qualification issuing: DBS is looking for small businesses that are traditional businesses that are commercially oriented and are just starting to think about incorporating sustainability into their operations. The sustainability areas include: reducing energy consumption, reducing waste, and sustainable supply chains.

 

 

The Sustainable Bond Grant Scheme (SBGS)

It covers up to S$100,000 in additional costs for external reviews of eligible green, social, sustainability, and sustainability-linked bonds, and encourages the adoption of globally recognized standards. The grant is good until May 31, 2023.

 

Visit the Monetary Authority of Singapore’s Website for more information.

 

Funded: Cap of $100,000 or 100% of the eligible expense per qualifying issuance.

 

Qualification issuing:

 

  • First and foremost, green, social, sustainability, and sustainability-related ties must be repeated. Issuers may file for the grant more than once.

 

  • Bonds in any currency that have undergone a pre-issuance external review or rating to show alignment with any globally recognized green, social, sustainability, or sustainability-related principles or standards.

 

  • A green, social, or sustainability bond that is issued and traded in Singapore. For sustainability-linked bonds, an external review or reporting must be done yearly for the first three years or until the bond’s tenure, whichever comes first.

 

  • A bond programme with a minimum size of S$200 million and an inaugural issuance of at least S$20 million; and a minimum tenure of one year.

The Green and Sustainability-Linked Loan Grant Scheme (GSLS)

This grant helps businesses of all sizes to become green and sustainable by hiring independent service providers to cover the cost of verifying the environmental and sustainability eligibility of loans. Help us raise funds. The grant also encourages banks to develop green and sustainability-related credit lines to make such financing more accessible to small and medium-sized enterprises (SMEs). GSLS is valid until December 31, 2023.

 

Visit the Monetary Authority of Singapore’s Website for more information.

 

GSLS will cover the cost of using sustainability consulting and assessment services in two ways:

 

(A) Green & Sustainability Linked Loan:

 

Eligible borrowers must: Onshore or offshore company or financial institution

 

(Including international institutions such as the International Finance Corporation and the World Bank but excluding states.)

 

Loans must meet the following criteria:

 

  • Minimum 3 year credit period

 

  • Minimum loan amount of S$20 million (or equivalent in another currency)

 

  • New Green Loans or SLLs (excluding refinancing of existing loans already subsidized)

 

Funded: A cap of S$100,000 per 3-year loan, with a funding period of 3 years from the applicant’s first eligible application. For clarity, applicants must submit their application within three months of the loan approval date.

 

(B) Green & Sustainability Linked Loan Framework:

 

Eligibility:

 

    • A Financial Sector Incentive (“FSI”) company in Singapore.
    • The Green & Sustainability Loan Framework for SMEs and Individuals is for (i) individuals or businesses with annual turnover up to S$100 million and (ii) loan size less than S$20 million.

 

Funded:

 

    • Green and Sustainability Linked Lending Framework for SMEs and Individuals will get 90% co-investment, up to S$180,000 total cost over 3 years.
    • Other green and sustainability-related financing frameworks will get 60% co-investment up to SGD 120,000 of total cost over 3 years
    • Subsidy period of 3 years from the first application

 

For clarity, applicants must submit their application within three months of the implementation of the framework.

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