BANGKOK, THAILAND (21 September 2022) — The Asian Development Bank (ADB) is supporting the Export–Import Bank of Thailand, a specialized state-owned financial institution, in issuing its first green bond in accordance with the Association of Southeast Asian Nations (ASEAN) green bond standards.

The Export–Import Bank of Thailand (EXIM Thailand) issued a 5 billion Thai baht ($135 million) green bond with 3- and 4-year maturities on 9 September. The bond was sold to Thai institutional investors and high net worth investors, contributing to the development of a sustainable bond market in Thailand.

“As Thailand's development bank, one of our primary goals is to promote business sustainability in accordance with the United Nations Sustainable Development Goals through innovative financial instruments,” said EXIM Thailand President Rak Vorrakitpokatorn. “This green bond reinforces EXIM Thailand's leading position in green finance as we strive to expand our green portfolio to THB100 billion by 2027 in accordance with the government’s Bio-Circular-Green (BCG) economic policy.”

EXIM Thailand will use the bond’s proceeds to finance solar and wind energy projects that are consistent with EXIM Thailand's environmental and social policies.

“This transaction demonstrates ADB's commitment to assisting Thailand's sustainable capital market development, which will help the country achieve a long-term, green, and inclusive recovery from COVID-19,” said ADB Financial Sector Specialist Kosintr Puongsophol. “Financial institutions like EXIM Thailand can play a critical role in mobilizing public and private capital to support their clients’ environmental and social objectives.”

ADB provided technical assistance to support bond framework development and capacity building through a collaboration between the Asian Bond Markets Initiative (ABMI) and the ASEAN Catalytic Green Finance Facility (ACGF). ABMI is an initiative of the governments of ASEAN, the People's Republic of China, Japan, and the Republic of Korea to develop local currency bond markets. ACGF is an initiative of the ASEAN Infrastructure Fund to accelerate green infrastructure investments in Southeast Asia.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

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