DCM TTB GreenBlue 2021 (IFC-46019)

Countries
  • Thailand
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 23, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
TMB THANACHART BANK PUBLIC COMPANY LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 20, 2024

Disclosed by Bank Aug 8, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank's website, the proposed project "entails IFC’s subscription of up to US$150 million in a USD-denominated bond to be privately issued by TMBThanachart Bank Public Company Limited (“TTB” or the “Bank”) to support TTB to grow green financing for electric vehicles (EVs) and to develop its blue financing business (the “Project”). TTB plans to issue a green bond of up to US$100 million and a blue bond of up to US$50 million via private placement to IFC.TTB, originally established as Thai Military Bank (TMB) in 1957, was renamed following its merger in December 2019 with Thanachart Bank Public Company Limited. TTB is the sixth largest bank in Thailand in terms of total assets and offers full-fledged commercial banking services in retail banking, corporate, SME banking, life and non-life insurance, investment banking and asset management."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed IFC investment is up to US$150 million, including up to US$100 million subscription in a green bond and up to US$50 million subscription in a blue bond, to be privately issued by TTB to support the growth of the Bank’s green and blue financing.                       

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the IFC, TTB has the following major shareholders: (i) ING Bank N.V. (22.97%), a multinational banking and financial services corporation based in the Netherlands; (ii) Thanachart Capital Public Company Limited (22.76%), a large financial conglomerate in Thailand; (iii) the Ministry of Finance of Thailand (11.76%); and (iv) Vayupak Fund I (10.52%) as of April 2022.   


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

TMBThanachart Bank Public Company Limited
Mr. Chalermchai Paisithmongkol
Head of Central Treasury
+662-299-1195
chalermchai.pai@ttbbank.com
3000 Phahonyothin Rd. Khwang Chomphon, Khet Chatuchak, Bangkok 10900
https://www.ttbbank.com/en

 

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If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works