WASHINGTON – U.S. International Development Finance Corporation (DFC) CEO Scott Nathan today met virtually with Singapore’s Permanent Secretary for Trade and Industry Gabriel Lim. CEO Nathan and Permanent Secretary Lim discussed the United States and Singapore’s strong bilateral relationship and shared interests in supporting sustainable development, particularly in Southeast Asia. They then signed a Memorandum of Understanding (MOU) between DFC and Singapore's Ministry of Trade and Industry, nominating Infrastructure Asia (InfraAsia) as the implementing partner.
Under the MOU, DFC and InfraAsia will mobilize U.S. and Singapore private sector companies engaged in key sectors such as energy, natural resource management, water, waste, transportation, and urban development, with a particular focus on sustainable infrastructure. The partnership between DFC and InfraAsia will strengthen the bilateral relationship between the U.S. and Singapore as the two organizations work together to achieve shared development outcomes.
“The Biden-Harris Administration has made historic strides to restore American leadership and renew ties in the Indo-Pacific,” said DFC CEO Scott Nathan. “This MOU lays a foundation for increased cooperation between the U.S. and Singapore to boost sustainable economic growth through joint infrastructure investments in Southeast Asia.”
“Singapore and the U.S. share common goals in supporting the development and financing of Southeast Asia’s growing infrastructure demands,” said Permanent Secretary Gabriel Lim. “The MOU will deepen our collaboration to include new areas of green infrastructure projects in the region, which will help spur sustainable development in Southeast Asia.”
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U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.