AWC Green Loan

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IFC’s proposed investment is a green loan of Thai Baht (“THB”) 4,500 million (equivalent of US$137 million) to Asset World Corp Public Company Limited (“AWC” or the “Company’). The IFC green loan, expected to be compliant with the International Capital Market Association (ICMA) Green Bond Principles, will be used toward energy efficiency measures in the refurbishment of four hotels, the greenfield development of two new hotels in key tourism destinations of Thailand including Bangkok, Hua Hin, Koh Samui and Chiang Mai and working capital to support the gradual re-opening of hotels following Covid-19-related shutdowns.AWC is the key real estate and hospitality arm of Thai Charoen Company (TCC) Group (the “Group”).  AWC is the largest hospitality operator in Thailand by number of rooms and has a growing and diverse portfolio of assets in hospitality and lifestyle destinations, retail and commercial workspaces, with ten retail centers and four office buildings.