A RECENT report by the US-based Institute for Energy Economics and Financial Analysis (IEEFA) and India’s auctusESG makes a familiar argument: Blended finance can help to unlock financing for the vast numbers of “unbankable” projects that are sorely needed to close the energy transition gap in developing countries.

It is a familiar argument because the promise of blended finance is already well established, as is the fact that there is not enough of it.

The challenge in the world of blended finance is scale. It is a challenge that Singapore, in particular, is trying to solve as part of the nation’s ambitions to become a sustainable finance hub.