OCBC to finance $10.9b of investments to UK growth sectors

These include energy, infrastructure, and real estate.

OCBC has signed an agreement with the UK government to finance £10b (approximately US$10.9b or S$14.6b) worth of investments into “future-focused industries” by 2030, including energy, infrastructure and real estate by 2030.  

The Singapore-based bank will collaborate with the UK’s newly expanded Office for Investment (OfI) to promote the UK as a hub for Asian businesses, investors and services, according to a press release.

This new partnership is expected to create more opportunities in sectors identified in the UK government’s upcoming Industrial Strategy.

It is also expected to strengthen the UK's engagement with the Asia Pacific region following its accession to the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP).

Martin Kent, His Majesty's Trade Commissioner for Asia Pacific, said that the partnership with OCBC will create more opportunities for Asia Pacific businesses looking to invest in the UK.

We are determined to make it quicker, easier, and more profitable to do business with the UK, including through the upcoming Industrial Strategy,” Kent said in a statement announcing the OCBC financing investment.

British High Commissioner to Singapore, Nik Mehta said that the investment partnership represents a “significant milestone” for the UK-Singapore relationship, which is celebrating its 60th year of diplomatic relations.

"OCBC’s commitment demonstrates the confidence that Singapore’s financial institutions have in the UK economy, and how our financial centres can partner to drive mutual prosperity,” Mehta said.

The UK and Asia-Pacific trading relationship is worth £125.7b, with UK-Singapore trade making up £22b of that, according to a joint press release by the British High Commission Singapore and OCBC.

(US$1 = £0.92 = S$1.34; Google, 3 March 2025)