DFC III (IFCT)

closed

Th Third Industrial Finance Corporation of Thailand (IFCT) Project of $25 million will enable IFCT to finance, over an 18 month period, the foreign exchange costs of capital goods required by eligible industrial, agroindustrial, mining, shipping, tourist and other enterprises. No subloan extended by IFCT using the proceeds of the proposed Bank loan may exceed $3.0 million. IFCT will be authorized to make individual subloans of up to $750,000 without the Bank's prior approval, up to an aggregate amount of $10.0 million. It is expected that about half of the number of subprojects and three quarters of the amount committed will require prior approval by the Bank. Expenditures made prior to 90 days of the date of receipt by the Bank of each subloan application will not be eligible for financing. The proposed Bank Loan will be repaid in conformity with a schedule based on the aggregate of the amortization schedules of IFCT subloans, which will have a maximum repayment period of fifteen years, including up to three years of grace.