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IE Singapore, Spring back S$380m lifeline to battered O&M sector
More than 70 loan applications approved under IFS and Bridging Loan schemes, over 100 firms still indicating interest
Published Thu, Jun 1, 2017 · 09:50 PM
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Singapore
THE Singapore government has backed about S$380 million of loans extended by banks to the beleaguered marine and offshore engineering industry (M&OE) under two schemes announced last November.
IE Singapore and Spring Singapore have approved loan applications totalling S$380 million under the two government agencies' Internationalisation Finance Scheme (IFS) and Bridging Loan (BL), respectively as of April 2017.
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