Singapore launches SPIRE Asia to mobilise up to US$500 million for climate-resilient agri-food projects across Southeast Asia through data, project development and blended finance.
Singapore has launched the Scaling Projects and Investments for Resilience in Asia (SPIRE Asia) Programme to mobilise up to US$500 million in investments to strengthen climate resilience across Southeast Asia's agri-food systems. Announced on November 10, 2026, by Minister for Sustainability and the Environment Grace Fu at the 31st United Nations Climate Change Conference (COP31) in Antalya, Türkiye, the initiative aims to improve access to financing for climate adaptation projects across the region.
The programme seeks to connect climate data, project development expertise and financing capabilities to convert regional adaptation requirements into investment-ready opportunities. It will focus on addressing climate-related challenges affecting agricultural production, rural livelihoods and food supply chains, including rising temperatures, changing rainfall patterns and increasingly frequent extreme weather events.
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Jointly developed by Singapore's National Climate Change Secretariat (NCCS), Monetary Authority of Singapore (MAS) and Enterprise Singapore (EnterpriseSG), SPIRE Asia will operate through three interconnected pillars: a data platform, a market development facility and a blended finance fund.
The data platform will integrate climate, agricultural and investment information to identify climate risks, assess adaptation opportunities and support investment decisions. It will also help measure the effectiveness of resilience initiatives. EnterpriseSG will lead this component, supported by Temasek Trust, the philanthropic arm of Temasek Holdings. A Solutions Centre for Regional Smallholder Farmers will support the development of data-driven solutions for agricultural communities.
The market development facility will identify promising projects and help transform them into investment-ready opportunities. It will provide technical assistance, project preparation support and expertise to aggregate smaller initiatives into portfolios that can attract institutional investors. Temasek Trust will lead the development of this facility in collaboration with regional and international partners.
The third component is a blended finance fund targeting up to US$500 million. It will combine catalytic capital with commercial financing to address investment risks and improve the financial viability of climate adaptation projects. The fund will support businesses and initiatives across the agri-food value chain that face difficulties securing conventional commercial financing. MAS will oversee this component.
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Singapore's government is initiating the programme in partnership with Temasek Trust, while a steering committee comprising NCCS, MAS, EnterpriseSG and Temasek Trust will coordinate its three pillars. The committee will be chaired by Singapore's Ambassador for Climate Action Ravi Menon.
SPIRE Asia also aims to create investment opportunities for Singapore-based financial institutions, investors and agricultural technology providers to expand their solutions across Southeast Asia. Through this integrated financing and project-development framework, Singapore intends to encourage greater private-sector participation in climate adaptation and strengthen regional food security.