By Yongchang Chin

HSBC Holdings PLC and Singapore state investment company Temasek Holdings Pte. will establish a debt financing program that will fund sustainable infrastructure projects in Asia.

Both partners will invest a combined US$150 million of equity to provide loans. The aim is to scale up to over US$1 billion worth of loans within five years, according to a joint statement from the two companies Thursday.

"The platform aims to catalyze significant capital flows to the sustainable infrastructure space, deploying blended finance at scale over time to unlock more marginally bankable projects and create a tradable asset class, crowding in private and institutional investors," the statement said.

Asian Development Bank and Clifford Capital Holdings will support the program as strategic partners and assist in offering technical assistance and expertise.

Write to Yongchang Chin at yongchang.chin@wsj.com

(END) Dow Jones Newswires

September 30, 2021 03:36 ET (07:36 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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