Singapore allocates $2.8b to Jurong Region Line and Cross Island line

The funds came from Singapore’s sovereign green bonds in FY2024.

Singapore has allocated $2.8b in proceeds from Singapore’s sovereign green bonds in FY2024 to finance capital expenditure of the Jurong Region Line and Cross Island Line, according to the Singapore Green Bond Report by the Ministry of Finance.

The government issued a new 30-year Green Singapore Government Securities bond via syndication in June 2024, with an issuance size of $2.5b. In October, the government reopened the 50-year Green SGS bond with an issuance size of $1.5b.

Both issuances saw healthy market demand, with overall subscription rates at 2.4 times and 1.6 times, respectively.
A total of $2.8b green bond proceeds were allocated in FY2024. The remaining unallocated proceeds, totalling $3.6b, are expected to be fully allocated to the Jurong Region Line and Cross Island Line by the end of FY2026.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia