Singapore Mulls Bonds, Reserves for $72 Billion Climate Fight
- Funding to come from ministry spending, borrowing, reserves
- Singapore must produce its own water before agreements expire
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Singapore is weighing options including the issuance of government bonds to fund the S$100 billion ($72 billion) it could take to fight rising sea levels over the next century.
In the short-term, funding for projects such as a S$400 million upgrade to the city-state’s drainage systems to boost flood resilience will come from ministry-level expenditures, Minister for the Environment and Water Resources Masagos Zulkifli said in an interview on Wednesday. Longer term spending, he said, could require the government to tap its national reserves and issue state bonds.