As part of continuing efforts to promote sustainable, resource-efficient practices and promote job creation, the International Finance Corporation (IFC), a member of the World Bank Group, is investing up to $100 million in a green bond issued by KASIKORNBANK Public Company Limited (KBank), one of Thailand’s largest commercial banks.

This is IFC’s first investment in KBank, IFC said in a statement on Monday.

The bond is expected to reduce pollution and improve environmental standards, while creating jobs and supporting innovation across priority sectors.

Proceeds of the bond will be used to support the growth and diversification of KBank’s sustainable assets, including green buildings and electric vehicles.

“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, Executive Vice President of KASIKORNBANK.

Beyond financing, IFC has been working with KBank on knowledge sharing and capacity building initiatives aimed at diversifying the bank’s sustainable assets and strengthening its environmental and social (E&S) practices.

The partnership with KBank is expected to support a strategic shift toward sustainability and efficiency for industries and companies, particularly those in sectors essential to core aspects of local economic development, including mobility, housing, and infrastructure.

“We are pleased to partner with KBank to promote sustainable finance and help build a resilient future for Thailand,

“By mobilizing capital toward sustainable assets, Thailand can mitigate risks and unlock new pathways for innovation, job creation, and competitiveness,” said Allen Forlemu, IFC Regional Industry Director, Financial Institutions Group, Asia & Pacific.

The latest investment is part of the World Bank Group’s broader engagement with Thailand leading up to the IMF–World Bank Group Annual Meetings, which will be held in October 2026 at the Queen Sirikit National Convention Center in Bangkok, said the statement.

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