Bangkok, Thailand, May 7, 2019 —IFC, a member of the World Bank Group, has signed an agreement with Amata Corporation Public Company Limited, a leading developer of smart cities, industrial zones, and townships headquartered in Thailand. The aim is to develop zone-level sustainability projects in Thailand and the Mekong region while promoting sustainable economic growth and protecting the environment.
The industrial sector in five Lower Mekong nations — Cambodia, Lao PDR, Myanmar, Thailand, and Vietnam — contributed 32.3 percent of the region’s GDP in 2017 and provided an estimated 20 percent of the employment. Additionally, industrial zones provide a good platform for supporting interventions for green buildings, clean energy, energy efficiency, and climate-smart water and waste infrastructure. The proximity of multiple co-located tenants also provides opportunities for green energy, innovative wastewater treatment and other circular economy projects that effectively use valuable resources. Implementation of such sustainability projects can help zones follow an environmentally friendly growth path and transition towards eco-efficiency consistent with national government priorities.
“We welcome this partnership, which is timely and will help us strengthen our market position as a leading developer of sustainable smart and eco cities and townships that promote green growth. Further, IFC will bring in a wealth of knowledge of global best practices as well as technical and industry expertise to this partnership. This will enable us to create sustainable, eco-efficient smart cities and townships in Thailand and the Mekong region,” said Lena Ng, Chief Investment Officer of AMATA Corporation PCL.
As part of the Memorandum of Understanding, which was signed today, IFC and Amata will identify projects for co-investment opportunities and encourage the use of sustainable energy, water, and waste solutions for buildings and infrastructure in existing and new smart cities, industrial zones, and townships. They will further raise awareness on green growth and promote sustainable design practices in selected zones in Thailand and the Mekong region.
“As a sustainability pioneer, IFC has extensive experience in developing eco-efficient zones, including in the green buildings space. We are creating markets and supporting climate-smart investments by promoting new regulations and standards, business models, and financing mechanisms,” said Vikram Kumar, IFC Country Manager for Myanmar and Thailand. He added, “Collaborative partnerships such as this can help decouple economic from environmental growth while promoting a sustainable private sector. Together with Amata, we expect to further build capacity for eco-efficient smart cities zones, green buildings, and climate-smart infrastructure by developing bankable investment projects.”
IFC supports greater private sector investment in green buildings and sustainable development. It has a green building portfolio of more than $4.5 billion, which includes its own direct investments and mobilized financing. IFC aims to achieve green building market transformation in a growing number of countries through its Excellence in Design for Greater Efficiencies (EDGE) certification system and the Green Urban Development (GUD) tool.
About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org
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About Amata
AMATA group is one of the world’s leading developers of smart cities, industrial cities, and townships listed on the Stock Exchange of Thailand (SET) since 1997. Currently, AMATA has a presence in Thailand and Vietnam and is expanding into Myanmar and Lao PDR, which is represented by a total project area of close to 500 sq. km. Our AMATA cities significantly contribute to regional economic growth. In total, AMATA Group is home to a global clientele of over 1,300 manufacturers from over 30 nationalities, including a significant number of Global Fortune 500 companies, which employ over 320,000 people, producing annually almost USD 55 billion worth of output and contributed to 10 percent of Thailand's GDP in 2017. www.amata.com
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