IFC lends through TMB Bank
The International Financial Corporation (IFC), a member of World Bank Group, and TMB Bank are working together to revitalise small and medium enterprises (SMEs) affected by the recent devastating flooding to get back to normal operation.
Serge Devieux, IFC Director of Financial Markets Asia, and the Thai bank's CEO Boontuck Wungcharoen, recently signed the mandate letter of the 3-year US$50 million – approximately Bt1.55 billion.
Boontuck said that the additional funds from IFC will help expand the bank’s programme which has been established to accelerate customer recovery from the direct and indirect impact of flooding which occurred in the country during the past two months.
“As a development institution focused on the private sector, IFC is committed to helping Thai businesses affected by the flooding. By partnering with TMB, we are looking to provide financing to businesses, especially small and medium enterprises to recover from the flooding and continue growing,” said Devieux.
