$2.1b of green bonds go to Jurong Region, Cross Island lines

MRT lines part of push to raise peak-hour public transport usage, cut emissions

- Sue-Ann Tan

Funds totalling $2.1 billion that were raised by government-issued "green" bonds have been allocated to the Jurong Region Line and Cross Island Line that are now under construction.

Both lines support the "sustainable living" pillar of the Singapore Green Plan 2030, said the Ministry of Finance (MOF), which noted in a Sept 25 report that the funds were disbursed in the 2023 financial year.

This pillar aims to have public transport used by 75 per cent of commuters during peak hours as opposed to private transport options by 2030. The share now is about 64 per cent.

"This is a key enabler to achieve the ambitious goal of significantly reducing land transport emissions in absolute terms, in alignment with Singapore's net-zero target by 2050," the MOF said.