9 August 2024
Bangkok (9 August 2024) –
Krungsri (Bank of Ayudhya PCL) supports customers’ transition to environmental sustainability, aligning with the Bank of Thailand’s objective of steering the financial sector towards sustainable future. Krungsri launches the
“Krungsri SME Transition Loan”, aimed at facilitating SME’s transition to sustainable practices based on the Circular Economy concept. This innovative financing solution offers long-term credit lines of up to 10 years, with a special fixed interest rate of 3.5% for the first two years, covering up to 100% of the project value. This loan is tailored for SMEs to finance projects that transition to clean energy by reducing fossil fuel consumption, and by implementing waste treatment and disposal initiatives.
Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, said “The urgency of combating climate change is more critical than ever. At Krungsri, we share these concerns and are dedicated to fostering positive change. We are committed to achieving carbon neutrality, aspiring to be one of Thailand's most sustainable commercial banks. Together with MUFG, Krungsri pledged to achieve net-zero emissions in our finance portfolio by 2050 and in our operations by 2030. Along this journey, we have accomplished significant milestones, particularly in Social and Sustainable Finance, with a total commitment of 71 billion baht from 2021 to 2023. Leveraging MUFG's global network and Krungsri's local expertise, we ensure that our products and services meet international standards while being pragmatic and effective, tailored to local conditions.”
“In our pursuit of a sustainable future, Krungsri supports our clients not only as the financial service provider but as the navigator guiding them through the transition to a green economy. This vision aligns closely with the Bank of Thailand’s objective of steering the financial sector towards sustainability.”
“With our ambition to assist SMEs through the transition to sustainability, Krungsri has introduced the
Krungsri SME Transition Loan. This product is designed to support SMEs in adopting sustainable practices by offering substantial loan limits and favorable interest rates. It provides essential funding for SMEs to implement projects that reduce pollution and embrace clean energy solutions, ensuring business resilience against the impacts of climate change,” Mr. Yamato said.
Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, along with Krungsri’s executives,
visited the Krungsri booth at the Financing The Transition event.
Miss Duangkamol Limpuangthip, Krungsri Head of SME Banking Group, said,
“Krungsri SME Transition Loan is designed for SME entrepreneurs in manufacturing, trading, and service sectors who seeking to improve or invest in their operations for environmental sustainability. Moreover, it facilitates the transition of businesses towards clean energy use by reducing fossil fuel consumption and decreasing waste or greenhouse gas emissions, including the treatment and disposal of operational waste. Examples of projects include installing EV chargers, purchasing, constructing, or renovating energy efficiency factories, investing in wastewater treatment facilities, and implementing circular waste management systems.”
Miss Duangkamol Limpuangthip, Krungsri Head of SME Banking Group, and Krungsri Executives welcomed
Mr. Ronadol Numnonda, Deputy Governor Financial Institutions Stability as the Bank of Thailand,
during his visit to the Krungsri booth at the Financing The Transition event.
“This transition product exemplifies Krungsri's commitment to supporting financial initiatives that propel entrepreneurs towards sustainability in a tangible way. Krungsri has also set a target of sustainable finance for SME entrepreneurs over 4,500 million baht by 2024. Beyond financial support, Krungsri provides knowledge and advice on transitioning to low-carbon businesses through various seminars and activities, such as Krungsri Business Talk, Krungsri Business Forum, Krungsri ESG Symposium Krungsri ESG Academy, and Krungsri ESG Awards. Additionally, Krungsri collaborates with public and private sectors through the Krungsri ESG Ecosystem network to drive Thai SMEs towards becoming environmentally conscious businesses under the Circular Economy concept. This initiative not only supports sustainable business growth but also plays a crucial role in helping Thailand achieve its goal of net-zero greenhouse gas emissions by 2050, as pledged by the Thai government on the international stage," Ms. Duangkamol concluded.
Interested entrepreneurs can obtain more information by contacting Krungsri’s Relationship Managers or the Krungsri Business Center at Tel. 02-626-2626. Terms and conditions apply.