Singapore and the United Kingdom (UK) have announced a collaboration on last Sunday to drive clean energy transition and advance the development of sustainable infrastructure across Southeast Asia.
During his official visit to Singapore on 12 July 2025, the UK Secretary of State for Foreign, Commonwealth and Development Affairs, David Lammy, announced a landmark pledge of up to £70 million ($93.73 million) to Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative, as part of the collaboration.
This announcement comes as the UK marks 60 years of diplomatic relations with Singapore – a strategic partnership built on shared interests, mutual respect, and a commitment to security and prosperity in the Indo-Pacific.
The UK’s funding, to be delivered through British International Investment (BII), will deploy investment capital and provide blended finance to support low-carbon energy projects and innovative business models, bolstering energy security and climate resilience.
This significant move marks a major step forward in the UK-Singapore Strategic Partnership and reflects both countries’ commitment to support Asia’s green energy transition and sustainable development.
The UK and Singapore are working together to accelerate sustainable infrastructure and investment across the region.
This includes supporting early-stage project development through joint technical assistance and encouraging private sector involvement, with a focus on practical solutions to help countries transition to cleaner energy.
By actively participating in the FAST-P initiative, alongside Singapore and other international partners, the UK is helping to mobilize critical capital and close infrastructure financing gaps.
“We are delighted to welcome the UK to join the FAST-P initiative,
“FAST-P has gathered a network of like-minded, global public, private and philanthropic partners, coming together to mobilize capital for a common goal – Asia’s transition,” said Gan Kim Yong, Deputy Prime Minister of Singapore, Minister for Trade and Industry and Chairman of the Monetary Authority of Singapore (MAS).
“We look forward to closer collaboration with our key partners on the FAST-P journey,” he added.
David Lammy, UK Secretary of State for Foreign, Commonwealth and Development Affairs, said this year, the UK and Singapore mark 60 years of diplomatic relations.
“ASEAN is set to be the fastest-growing economic bloc this decade,
“We need to keep investing in our friendships, making them resilient and focused on the future,” he added.
Srini Nagarajan, Managing Director and Head of Asia, BII, said as the UK’s development finance institution, they have a specific mandate to support Southeast Asia’s green energy transition.
“We look forward to deepening our collaboration with the Monetary Authority of Singapore on FAST-P,
“This is an important partnership in our plan to deliver our commitment of accelerating the development of climate projects and mobilizing private capital in the region,” he added.