The Singapore government has stepped in to protect the country's hard-hit offshore marine segment.

The measures include boosting International Enterprise (IE) Singapore's finance scheme and the reintroduction of government-backed bridging loans.

The bridging loan reintroduction will help Singapore-based companies borrow S$5m each for up to six years to finance their operations and bridge short-term cash flow gaps.

Additionally, IE's existing Internationalization Finance Scheme (IFS), which provides project/asset financing support for companies, will be enhanced.