Hanoi (VNA) - The Asian Development Bank (ADB) has announced that it is supporting Thailand's state utility operator - Provincial Electricity Authority (PEA), in issuing its first sustainability bond.
According to ADB's statement released on August 13, this programme will raise 1 billion THB (28.44 million USD) to support the development of renewable energy projects and improve energy access across the Southeast Asian country.
The bond, which has a five-year maturity, will be issued on August 21 to Thai institutional investors, marking a significant step toward developing a dynamic and sustainable bond market in the country.
The ADB said the proceeds will support PEA's sustainable development programme, which aims to boost the development of renewable energy projects, and enhance climate resilience and adaptation initiatives, such as submarine cables to remote islands.
The bank added that the PEA will also use the proceeds to improve energy accessibility, particularly in areas without access to electricity, and elevate the quality of life for beneficiaries./.
