Bangkok, Thailand, June 1, 2011
—IFC, a member of the World Bank Group, is promoting renewable energy and energy-efficiency financing in Thailand to help local companies, especially small and medium enterprises, cut costs, increase productivity, and reduce greenhouse gas emissions.
In cooperation with the government of Japan, IFC is hosting a workshop in Bangkok today that brings together local financial institutions, energy service companies (ESCO) that provide a broad range of comprehensive energy solutions, and energy-efficiency experts to discuss how companies can use leasing and other financing tools to acquire energy-efficient technology and equipment for their businesses.
“Expanding availability of long-term finance and designing specialized lending products for energy-efficiency investments will help Thai small and medium enterprises upgrade their production systems and technologies to achieve greater energy and cost savings, raise productivity, and enhance corporate social responsibility,” said Simon Andrews, IFC Regional Manager, Thailand, Cambodia, the Lao People’s Democratic Republic, and Vietnam. “This is a good model of private sector participation to meet the government’s targets on energy efficiency and renewable energy.”
The workshop draws on the results of a new IFC study, “Sustainable Energy Leasing and ESCO Business Opportunities in Thailand,” as well as best practices on energy-efficiency financing from China, the Philippines, and other East Asian countries.
“This workshop seeks to encourage leasing and energy service companies to adopt an integrated financing approach,” said Katsuya Nagafusa, First Secretary of the Embassy of Japan in Thailand. “Showcasing local business opportunities and success stories throughout East Asia will help promote energy-efficiency financing in Thailand, contributing toward a low-carbon economic growth path.”
Thailand relies heavily on expensive oil imports for its energy supply and the industrial sector is the biggest power consumer. As one of the world's 25 biggest emitters, the Thai government aims to reduce energy intensity in the industrial sector by 20 percent by 2020, relative to 2006 levels.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
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