EnterpriseSG and CEB to boost financing for Singapore firms' overseas expansion
The initiative will support EnterpriseSG's enterprise financing scheme.
Enterprise Singapore (EnterpriseSG) and Credit Europe Bank N.V. (CEB) signed an agreement to enhance financing access for Singapore companies venturing overseas.
This financing partnership will initially focus on international trade and commodity financing, with plans to expand to other products.
The agreement was part of EnterpriseSG’s Enterprise Financing Scheme – Foreign-based Financial Institutions (EFS-FFI), which enables Singapore companies to tap new financing sources from selected foreign-based financial institutions when expanding overseas.
The EFS-FFI provides risk-sharing of up to 50% to support lending to Singapore companies from partner foreign-based financial institutions covering a range of financing facilities, including working capital, fixed assets, trade, project, and mergers & acquisitions.
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