IFC’s Investment in East Water Blue Bond to Help Provide Critical Water Supply in Thailand’s Eastern Economic Corridor

Bangkok, Thailand, August 18, 2025—A new investment will help secure reliable access to water supply in Thailand’s Eastern Economic Corridor (EEC) and help improve the country’s overall water resource management.  IFC has invested in a blue bond issued by East Water, a pioneer in developing and managing major water pipelines in the country and the largest private sector company supplying water in the EEC region. This is East Water’s first blue bond and IFC’s first blue financing investment in the infrastructure sector in Asia Pacific.

IFC, a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets, along with other institutional and high-net-worth investors from Thailand, subscribed to the 620-million-Thai-baht bond on August 18, 2025. Proceeds will be used to support East Water to free up cashflows and continue investing in maintaining the quality of its extensive 553 km water transmission network, which is the longest in Thailand and the most integrated in the EEC region, linking multiple government-owned reservoirs, rivers, and private reservoirs. 

“Water is not only essential to life, it’s also a powerful engine for economic growth,” said Jane Yuan Xu, IFC Country Manager for Thailand. “IFC’s investment will help water continuously flow into the EEC, a leading industrial and business hub, providing raw, tap and industrial water for businesses and households throughout the region and supporting livelihood, growth and job creation.”

EEC currently has 27 industrial estates that are EEC’s promotional zones and is a key part of the government’s “Thailand 4.0” strategy to achieve a high-income status by 2036, with the expectation of hosting all key growth industries in industrial and digital sectors and creating 200,000 jobs and accommodating 350,000 people by 2032.   

“As a key regional hub for industries, the EEC remains a vital source of livelihood for many Thais,” said Bordin Udol, President & CEO of East Water. “East Water’s first blue bond issuance is a testament to our company’s commitment to improve the quality and supply of water and ultimately contribute to increased water security in the country. East Water is honored and highly appreciates that IFC values us as a strategic partner to deliver increased water security to the region.”

IFC, since the creation of the Blue Finance Guidelines in 2022, has been actively supporting the blue economy and helping channel more investments into ocean preservation and water management activities across the globe. Supporting East Water to issue its inaugural blue bond is part of IFC’s commitment and strategy to continue promoting the blue economy in the Asia Pacific region.  East Water is also a member of IFC’s Utilities for Climate (U4C) network, which supports leading water utilities in emerging markets to strengthen their climate resilience and future-proof commercial water infrastructure.

“We are glad to support East Water with our global expertise in water and infrastructure sectors, climate and sustainability,” said Katherine Koh, IFC Regional Industry Manager for Infrastructure and Natural Resources, Asia and Pacific. “This project is a key component of the World Bank Group’s ongoing initiatives to improve Thailand’s water resilience across various levels in the country.”

The World Bank Group is also actively engaging with the Ministry of Finance and with the interministerial working group, formed by the Office of National Water Resources, to tackle the challenges associated with water resource management.

Thailand is set to be the host of the World Bank Group – IMF Annual Meetings in October 2026, which serves as a vital platform to raise awareness of pressing global development challenges and highlight its leadership in blue economy innovation and sustainable blue value creation.