The Australian Government announced that it is establishing a $2 billion investment financing facility.
Addressing the ASEAN Summit in Melbourne on Tuesday, Prime Minister Albanese stated that his Government was establishing a $2 billion investment facility to boost investment in Southeast Asia, as part of the Australian Governments economic initiatives.
As part of the suite of investment initiatives, a $2 billion Southeast Asia Investment Financing Facility (SEAIFF) was launched, which will provide loans, guarantees, equity and insurance for projects that would boost Australian trade and investment in Southeast Asia, particularly in support of the clean energy transition and infrastructure development.
“We are very excited about the launch of the SEAIFF investment facility. SMCS Group, through its renewable energy company, GEI Mekong, has been looking to build waste-to-energy infrastructure projects in Southeast Asia since 2014 and have always hoped that the Australian Government would support our business.” said Steve Morrish, CEO of SMCS Group.
SMCS Group has pipeline renewable energy projects in Cambodia and Laos, and has been conducting feasibility studies in Thailand and Vietnam.