- Small and Medium-Sized Thai Enterprises to Benefit from Increased Funding Access --
WASHINGTON, DC, May 29, 1998 -- The International Finance Corporation has signed an agreement to invest US$10 million in Ayudhya Development Leasing Company (ADLC), Limited, a specialized finance leasing company based in Bangkok. The loan will provide small and medium-sized Thai enterprises with much needed term funding to acquire new equipment and thereby improve productivity.
ADLC will provide medium-term financing (about three-four years) primarily to those small and medium-sized enterprises involved in trade, finance, and industrial activities through the provision of medium-term leases. IFC’s investment in the leasing company will enhance the competitiveness of Thai enterprises while generating employment opportunities and ensuring that their operations are environmentally sound.
IFC’s investment will expand the operating capacity of ADLC, one of several specialized leasing companies in Thailand. Mr. Khalid A. Mirza, Chief of the Resident Mission for IFC in Thailand said IFC’s involvement would help Thailand’s small and medium-sized companies acquire the equipment necessary for their continued operations in a time of tight liquidity.
The investment reflects the importance IFC attaches in helping one of its portfolio companies at times of tight liquidity. ADLC, established in late 1991 with IFC’s support, is a joint venture between Bank of Ayudhya Group, Korea Development Leasing Corporation, Korea Long Term Credit Bank, and IFC. A team of leasing professionals, led by Mr. Yun Soo Kim manages the company, who has extensive experience in lease finance in Korea, Bangladesh, and Thailand. IFC currently holds 15 percent of ADLC shares.
IFC, part of the World Bank Group, fosters economic growth in the developing world by financing private sector investments, mobilizing capital in the international financial markets and providing technical assistance and advice to governments and businesses.
