SINGAPORE, Nov. 11 (Xinhua) -- The Monetary Authority of Singapore (MAS) announced on Monday that it had set a two billion U.S. dollars green investment program to support the Singapore financial center to promote environmentally sustainable projects and mitigate climate change risks in Singapore and the region.

(File photo: VCG)

According to a media release from the authority, the program will foster the growth of a strong and diverse ecosystem of green financing capabilities in Singapore.

Ong Ye Kung, Singapore's Minister for Education and Board Member of MAS, said on Monday that under the program, MAS would place funds to public market investment strategies which had a strong green focus, with asset managers who were committed to deepening green finance activities and capabilities in Singapore.

He said that the first investment under the program would be a 100 million dollars placement in the Bank for International Settlements' Green Bond Fund, in support of its global green finance initiatives.

"This programme also supports MAS' efforts to generate sustainable long-term returns on its investment portfolio," Ong added. "It complements our broader range of initiatives to accelerate the growth of Singapore's green finance ecosystem."