IFC grants Thailand’s first sustainable loan to RATCH Group for investments in affordable hydropower and healthcare



Bangkok, Thailand, July 12, 2021– Funding for new healthcare facilities in Thailand and renewable energy projects in Indonesia is expected to come from IFC’s $ 150 million financing for a sustainable loan to RH International (Singapore) Corporation Pte Ltd (RHIS), a subsidiary 100% of RATCH, based in Bangkok. Public company of the group with limited liability.

The pledge marks IFC’s first sustainable loan in Asia and the first sustainable loan for an infrastructure company in Thailand, the proceeds of which are expected to finance the company’s eligible green and social projects, including hydropower financing in Indonesia.

With Thailand now battling a third wave of COVID-19, part of the financing from the sustainable loan will be used to build new hospitals in border regions outside Bangkok, thanks to the RATCH group’s stake in the Principal hospital group Capital Public Company Limited (PRINC). . PRINC is at the forefront of providing essential services during the ongoing COVID pandemic and plans to expand its health facilities to up to 20 hospitals in a secondary town in Thailand.

The funding comes at a time when infrastructure companies are looking to shift their activities towards more sustainable models to support national goals and meet investor demand for profitable investments that also enhance its environmental and social value.

“RATCH is delighted to sign this first sustainable loan for an infrastructure company in Thailand with IFC, as it recognizes our commitment to sustainability and environmental responsibility,” said Mr. Kijja Sripatthangkura, Chief Executive Officer, RATCH Group Public Company Limited. “Meeting IFC’s high standards validates RATCH’s ‘green energy’ strategy, which includes producing 2,500 megawatts of renewable energy by 2025 as we add solar, hydro, wind and energy. of biomass to our energy portfolio.

With the sustainable loan, IFC hopes the investment will send a clear signal to the market, demonstrating the value of sustainable investments and spur more similar investments.

“As the recovery begins slowly, there is a tremendous opportunity for Thailand to invest in infrastructure that creates a greener future and a more connected, prosperous and resilient society,” said Yuan Xu, IFC Country Manager for Thailand and Myanmar. “The IFC loan will help RATCH build a more sustainable business model and further diversify the company’s funding base amid growing investor interest in climate finance deals.”

In addition to long-term finance, IFC has helped RATCH articulate its sustainability strategy and develop a sustainable finance framework as it expands its reach to the renewable energy and other social infrastructure sectors in Thailand, as well as non-renewable projects. related to infrastructure in other emerging markets. The Sustainable Financing Framework is being developed in accordance with the Principles of Green Lending (GLP) and Principles of Social Lending (SLP) administered by the Loan Market Association and will help RATCH raise additional financing to support its growth in green and social projects.

About IFC
IFC is the world’s largest private sector-focused development institution in emerging markets. We work in over 100 countries, using our capital, expertise and influence to create markets and opportunities in developing countries. In FY2020, we invested $ 22 billion in private businesses and financial institutions in developing countries, harnessing the power of the private sector to end extreme poverty and foster shared prosperity. For more information visit www.ifc.org.

About the RATCH Group
RATCH Group Public Company Limited (formerly Ratchaburi Electricity Generating Holding PCL.), A value-driven energy and infrastructure company in Thailand and Asia-Pacific, was established on March 7, 2000, with a registered capital of 14 , 5 billion baht. The Electricity Generation Authority of Thailand (EGAT) is the main shareholder holding 45% of the capital. As a holding company, RATCH Group seeks investments in subsidiaries and joint ventures in the sectors of electricity, infrastructure and activities related to electricity and energy. At present, the company has an operational base in Thailand, Lao PDR, Australia, China, Indonesia and Vietnam. RATCH has received considerable recognition for its sustainability efforts. In 2020, the company received the award for best green bond in local currency from the Asset Triple A Sustainable Capital Markets Regional Awards in the Renewable Energy / Transition Energy category, as well as the Deal of the Year and Environmental, Social and Governance awards. Bond (ESG Bond) at the Thai BMA Best Bond Awards 2020. The Thai Greenhouse Gas Management Organization (TGO) has certified carbon credits for RATCH’s voluntary emission reduction projects in Thailand on efficiency energy, solar floating and sustainable forests. RATCH is also listed on the Thailand Stock Exchange of Thailand Sustainability Investment (THSI) for the sixth consecutive year in 2020, as well as the Sustainability Disclosure Award of the Thaipat Institute for the second consecutive year. To find out more about the RATCH Group, visit www.ratch.co.th.



Source link

Previous New Anti-Money Laundering Priorities for FinCEN | Foley & Lardner srl
Next Buy fluffy stocks. It's worth the jump on it, says this analyst.