COVID-19 Active Response and Expenditure Support Program (AIIB-TBD)

Countries
  • Thailand
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Thailand
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
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, etc.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2,000.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jul 3, 2020


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Project Description

According to the bank's documents, "The Program’s objective is to mitigate the adverse impacts of COVID-19 on the health of the Thai population as well as on the country’s overall economy by providing urgently needed social expenditures and expanding GoT’s social assistance programs for the poor and vulnerable to reduce the adverse social and economic impacts of COVID-19."

"To support the healthcare sector, the economy, and those affected by COVID-19, the Government of Thailand (GoT) has announced three relief and stimulus packages covering both fiscal and monetary measures, totaling USD72.7 billion. The key fiscal measures would: (i) provide social assistance to individuals including informal workers and farmers; (ii) support economic and social recovery; and (iii) strengthen the healthcare sector (Program)."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Co-financing:
ADB US$ 1,500 million

Contact Information

Asian Infrastructure Investment Bank
Toshiaki Keicho, Senior Investment Operations Specialist
toshiaki.keicho@aiib.org

Asian Development Bank
Sophie Duong T. Nguyen, Financial Sector Economist
dtnguyen@adb.org

Borrower
Benjarat Tanongsakmontri
Director, International Cooperation Division, Ministry of Finance
tbenjarat@gmail.com

ACCOUNTABILITY MECHANISM OF AIIB
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html .
 
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html .