The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently announced it is supporting the Thai Bankers’ Association to help its members better manage environmental and social risks in lending operations and improve the sustainability of financed projects rather than the sustainability of lending services. As part of this effort, the organizations will hold a joint workshop on “Equator Principles,” which are designed by IFC to define the roles and responsibilities for maximizing environmental and social sustainability. Workshop speakers will include representatives from US-based Citibank and Industrial Bank, the first bank in China to adopt the Equator Principles.
Chartsiri Sophonpanich, Chairman of Thai Bankers’ Association, said, “The current challenge for Thailand is maintaining sustainable growth and effectively addressing environmental issues such as industrial pollution and waste treatment. The financial sector can play an important role if it adopts sustainable approaches in risk management and lending policies, and proactively finances projects offering good economic, environmental, and social returns.” The Thai Bankers’ Association was founded in 1958 by a group of 15 representatives of Thailand commercial banks; the current membership information is not available.
By Carol Kim, Research Associate
About International Finance Corporation (IFC): IFC is a member of the World Bank Group that offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2011, IFC has 182 member countries that drive its policies and approve disbursements. As of June 30, 2010, IFC reports net income of USD 1.75 billion, total assets of USD 61 billion, return on assets of 3.1 percent and total investment mobilization of USD 18.4 billion to 528 projects.
Sources and Additional Resources:
International Finance Corporation (IFC) Press Release: “IFC Supports Better Environmental and Social Risk Management in Thai Banks”, July 2011, http://www.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/EC167D7AE17C3024852578DA000AA0E2?OpenDocument
MicroCapital.org: “MICROCAPITAL BRIEF: International Finance Corporation (IFC), FMO of The Netherlands to Loan $30m to Costa Rica’s National Cooperative of Educators (Coopenae) for Housing Finance, Support to Small- and Medium-Sized Enterprise (SMEs)”, August 3, 2011, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-fmo-of-the-netherlands-to-loan-30m-to-costa-rica’s-national-cooperative-of-educators-coopenae-for-housing-finance-support-to-sm/
MicroCapital.org: “MICROFINANCE EVENT: Triple Bottom Line Investing (TBLI) Presents “TBLI Conference Europe 2011,” November 10 & 11, 2011, London, United Kingdom”, June 7, 2011, https://www.microcapital.org/microfinance-event-triple-bottom-line-investing-tbli-presents-tbli-conference-europe-2011-november-10-11-2011-london-united-kingdom/
MicroCapital’s Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
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