WASHINGTON, D.C., June 30 -- The International Finance Corporation (IFC) has approved a $30 million loan to Dhana Siam Finance and Securities Public Company Limited of Thailand. This is IFC's largest credit line to a financial institution in Asia and the first direct loan to a Thai financial intermediary. The loan agreements were signed today in Bangkok by Mr. Dalip Pathak, IFC's Regional Representative in Bangkok, and Mr. Rutt Phanijphand, President and Chief Executive Officer of Dhana Siam. Dhana Siam, one of the largest finance and securities companies in Thailand, will use the IFC loan to provide long-term loans to Thai companies. The loan has a maturity of ten years. Mr. Varel Freeman, Director of IFC's Asia Department, said, "The IFC loan will address the shortage of long-term funding available to Thai companies." IFC recently sponsored a workshop in Bangkok to assist Dhana Siam staff in assessing and managing environmental risks in projects that seek financing. The workshop will enable Dhana Siam to ca
rry out environmental reviews of its borrowers. IFC is a member of the World Bank Group and is the largest multilateral source of equity and loan financing for private sector projects in developing countries.
