EXIM Thailand announces its 100-million-baht investment in the MFC Energy Fund managed by MFC Asset Management Public Company Limited signifying its proactive role in supporting the government’s policy to promote the development of new energy sources including alternative and renewable energy in Thailand. This initiative will also help decline Thailand’s dependence on energy importation and push forward the use of clean energy for environmental conservation.
Dr. Apichai Boontherawara, President of Export-Import Bank of Thailand (EXIM Thailand), and Dr. Pichit Akrathit, President of MFC Asset Management Public Company Limited (MFC), signed a agreement wherewith EXIM Thailand would invest 100 million baht in the open-ended MFC Energy Fund managed by MFC. Presided over by 2nd Lt. Ranongrak Suwanchawee, Deputy Finance Minister, the contract signing ceremony took place at EXIM Thailand Head Office on March 20, 2008.
EXIM Thailand President said that, with its new role in supporting businesses which stimulate national development, EXIM Thailand decided to make a 100-million-baht investment in the 2.5-billion-baht MFC Energy Fund. This move matches with the government plans to promote national energy security. With its investment policy concentrating on the development of new energy sources, especially, alternative and renewable energy from wind, water, solar power and bio-fuel, the Fund will help diminish Thailand’s dependence on energy import in term of the soaring oil prices.
This year EXIM Thailand’s Investment Banking Department has allocated one billion baht for investing in high-potential businesses lacking necessary fund to spur their long-term growth. This debut investment in the MFC Energy Fund will profit not only the energy sector but also the agricultural sector which supplies raw materials to alternative energy industries. Also, EXIM Thailand will gain additional income from investing in energy businesses that have high potential and a promising future.
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