Original disclosure @ IFC website
Updated in EWS Aug 12, 2021
Disclosed by Bank Jun 5, 2018
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According to the IFC website, the project entails an IFC’s subscription of up to US$150 million in USD denominated bonds to be issued by TMB Bank Public Company Ltd. (TMB or the Bank) to finance SMEs and eligible “green” projects (the Project). TMB is the seventh largest bank in Thailand, both in terms of assets and loans, and has been an IFC client since 2012. The Project will support the Bank’s ongoing efforts to increase its lending portfolio to SMEs, an important sector that drives economic growth and employment, and to promote climate-smart and other environmentally sustainable investments in the country.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
TMB is the seventh largest bank in Thailand, both in terms of assets and loans, and has been an IFC client since 2012. The Project will support the Bank’s ongoing efforts to increase its lending portfolio to SMEs, an important sector that drives economic growth and employment, and to promote climate-smart and other environmentally sustainable investments in the country.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||ING Groep N.V. (ING)||Investor||-|
|Better World Green PCL||Parent Company||Energy||owns||Ava Grand Energy Co Ltd||Client||Energy|
|Better World Green PCL||Parent Company||Energy||owns||Recovery House Co Ltd||Client||Energy|
|Electric Power Dvlp Co Ltd||Parent Company||Energy||owns||Gulf Power Generation||Client||Energy|
|Gulf Energy||Parent Company||Energy||owns||Sriracha GSRC CCGT Power Plant (2.65GW) IPP||Client||Energy|
|Gulf Energy Development||Parent Company||Energy||owns||Chonburi Gas-Fired Thermal Power Plant (2500MW)||Client||Energy|
|Gulf Energy Development PCL||Parent Company||Energy||owns||Gulf Src Co Ltd||Client||Energy|
|Mitsui & Co||Parent Company||Energy||owns||Chonburi Gas-Fired Thermal Power Plant (2500MW)||Client||Energy|
|Mitsui & Co||Parent Company||Energy||owns||Sriracha GSRC CCGT Power Plant (2.65GW) IPP||Client||Energy|
|TMB Bank||Investor||Finance||invests in||Ava Grand Energy Co Ltd||Client||Energy|
|TMB Bank||Investor||Finance||invests in||Better World Green PCL||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Chonburi Gas-Fired Thermal Power Plant (2500MW)||Client||Energy|
|TMB Bank||Investor||Finance||invests in||CK Power PCL||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Electric Power Dvlp Co Ltd||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Gulf Energy||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Gulf Energy Development||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Gulf Energy Development PCL||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Gulf PD||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Gulf Power Generation||Client||Energy|
|TMB Bank||Investor||Finance||invests in||Gulf Src Co Ltd||Client||Energy|
|TMB Bank||Investor||Finance||invests in||IRPC PCL||Parent Company||Mining|
|TMB Bank||Investor||Finance||invests in||Lalin Plc||Parent Company||Construction|
|TMB Bank||Investor||Finance||invests in||Mitsui & Co||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Nava Nakorn Electricity Generating Co Ltd||Parent Company||Energy|
|TMB Bank||Investor||Finance||invests in||Recovery House Co Ltd||Client||Energy|
|TMB Bank||Investor||Finance||invests in||SC Asset Corp PCL||Parent Company||Industry and Trade|
|TMB Bank||Investor||Finance||invests in||Sriracha GSRC CCGT Power Plant (2.65GW) IPP||Client||Energy|
TMB Bank Public Company Limited
Mr. Chalermchai Paisithmongkol
Head of Balance Sheet Management and/or Head of Central Treasury
+66 2299 1111
3000 Phahonyothin Road, Chompon, Chatuchak, Bangkok 10900 THAILAND
ACCOUNTABILITY MECHANISM OF IFC
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/