The International Finance Corporation (IFC), the World Bank Group’s private-sector lending arm, said it is investing up to $100 million in a green bond issued by Thailand’s KASIKORNBANK (KBank) to help expand the lender’s sustainable finance portfolio and support job creation.
It is IFC’s first investment in KBank, one of Thailand’s largest commercial banks, according to the statement.
IFC said proceeds from the bond will be used to grow and diversify KBank’s sustainable assets, including financing for green buildings and electric vehicles. The bond is expected to help reduce pollution and improve environmental standards while supporting innovation across priority sectors, it added.
“This partnership will enhance our clients’ business capabilities in adopting low-carbon technologies that help reduce greenhouse gas emissions, strengthen global competitiveness, and offer Thais greater access to green lifestyles, ultimately driving Thailand towards its Net Zero target,” said Dr. Karin Boonlertvanich, an executive vice president at KBank.
Beyond the financing, IFC said it has been working with KBank on knowledge sharing and capacity-building initiatives aimed at diversifying sustainable assets and strengthening the bank’s environmental and social practices.
Allen Forlemu, IFC’s regional industry director for financial institutions in Asia Pacific, said the partnership would help mobilise capital toward sustainable assets to “unlock new pathways for innovation, job creation, and competitiveness” in Thailand.
The investment is part of the World Bank Group’s broader engagement with Thailand ahead of the IMF–World Bank Group Annual Meetings, which are scheduled to be held in October 2026 in Bangkok, the statement added.
Business News Asia
