Singapore launches agri-food resilience programme for Southeast Asia
Singapore is launching the SPIRE Asia Programme to channel more capital into climate adaptation across Southeast Asia's agri-food systems. The initiative includes a blended finance fund that seeks to mobilise up to U.S.$500 million and is announced at COP31 by Minister for Sustainability and the Environment Grace Fu.
Highlights
- SPIRE Asia, launched by the Monetary Authority of Singapore and partners, aims to turn climate resilience needs into investible projects using data, project development and financing.
- The programme features a three-pillar structure: a data platform, a market development facility for adaptation opportunities, and a blended finance fund targeting agri-food investment.
- The blended finance fund is targeting up to U.S.$500 million to mobilise commercial capital for early-stage Southeast Asian climate adaptation projects in the agri-food value chain.
Programme structure and funding plan
As reported by Monetary Authority of Singapore, SPIRE Asia, short for Scaling Projects and Investments for Resilience in Asia, is designed to turn climate resilience needs into investible projects by combining data, project development and financing capabilities.The programme is jointly developed by the National Climate Change Secretariat, the Monetary Authority of Singapore and Enterprise Singapore. It is built around three pillars: a data platform that brings together climate, agricultural and investment data, a market development facility to identify and prepare adaptation opportunities, and a blended finance fund targeting regional investments across the agri-food value chain.
The blended finance fund seeks to mobilise up to U.S.$500 million for climate adaptation projects and businesses in Southeast Asia. The aim is to draw in commercial capital for projects that often struggle to secure funding because they are too small, too early in development, or do not yet have the data investors require.
Regional pressure on food systems
Climate change is creating mounting risks for Southeast Asia's agri-food sector as higher temperatures, shifting rainfall patterns and extreme weather events disrupt production, livelihoods and food supply chains across the region.Singapore says investment in climate adaptation is not keeping pace with those risks. By focusing on project preparation, data availability and financing access, SPIRE Asia is intended to help bridge that gap and strengthen the resilience of regional food systems.
Earlier, we reported that a UN-backed fertilizer transit mechanism through the Strait of Hormuz was still awaiting a U.S.-Iran agreement.
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