Thailand's economic growth, which is particularly energy intensive, is partly driven by the construction sector, which accounts for more than 20% of the country's greenhouse gas emissions. AFD has partnered with the local Kasikorn Bank to support the country's ecological transition by proposing financing mechanisms in order to promote energy efficiency and renewable energies in the construction sector.
This initiative is part of the SUNREF program, AFD's green finance label.
AFD has granted Kasikorn Bank a credit line of EUR 20 million to finance renewable energy and energy efficiency projects in existing commercial buildings. The line of credit is intended for owners of commercial buildings wishing to undertake energy rehabilitation work on their premises with the support of energy service companies (ESCO) to reduce their energy consumption and consequently their greenhouse gas emissions. Technical assistance is also being offered in order to build Kasikorn Bank's capacities with regard to the assessment of energy efficiency projects and in terms of environmental and social responsibility.
- Rehabilitation of 20 to 40 buildings
- Reduction of these buildings’ energy bill by at least 15%
- Long-term development of Kasikorn Bank's capacities in assessing and overseeing energy efficiency projects and a sustainable portfolio in this sector.
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