Written reply to PQ on intended roles for Singapore in Japan's proposed $10 billion financial framework to assist ASEAN nations to enhance energy security

Question:

Dr Neo Kok Beng: To ask the Deputy Prime Minister and Minister for Trade and Industry what are the possible or intended roles for Singapore in Japan's proposal of $10 billion financial framework to assist ASEAN nations in securing oil supplies and enhancing energy security in the face of future energy supply disruptions. 

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1.                  On 15 April 2026, Japanese Prime Minister Sanae Takaichi announced the USD 10 billion Partnership On Wide Energy and Resources Resilience (POWERR Asia). It is aimed at strengthening energy and supply chain resilience among countries in Asia.

2.                  Singapore supports this initiative, and we are awaiting details from Japan on how it will be operationalised. For now, we understand that Japan will channel its support primarily through Japanese entities such as the Japan Bank for International Cooperation (JBIC), Japan International Cooperation Agency (JICA), and Nippon Export and Investment Insurance (NEXI). Singapore will work with Japan and other trusted partners to strengthen regional resilience against future supply disruptions, and facilitate the flow of energy and essential goods.