Singapore, 5 July 2021... The Monetary Authority of Singapore (MAS) announced today that it will further extend the MAS SGD Facility for ESG Loans 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. This extension will complement the six-month extension of Enterprise Singapore’s (ESG) Temporary Bridging Loan Programme 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. (TBLP) from 1 October 2021 to 31 March 2022.
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 institutionsBanks 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. (EFIs), to support loans made under the ESG Loan Schemes from 1 October 2021 to 31 March 2022.
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.