News

Lending & Credit

Staff Reporter

, Thailand

Published:

11 months ago

Photo by Suikotei via Wikimedia Commons.

SMBC grants $50m green loan to Thailand's Indorama Ventures

Indorama Ventures will use it for their working capital and to achieve its sustainability targets.

Sumitomo Mitsui Banking Corporation has extended a $50m sustainability linked trade finance facility to Indorama Ventures, a Bangkok-based petrochemicals manufacturer.

Indorama Ventures will use the facility for its working capital and to achieve its sustainability targets. These include greenhouse gas (GHG) emission intensity reduction, post-consumer PET bale input for recycling, and boosting its renewable energy consumption.

Deputy Group CEO and Group CFO, Indorama Ventures, DK Agarwal, said, “We are pleased to partner with SMBC on this sustainability-linked working capital facility, which supports the commitment Indorama Ventures has towards integrating sustainability,” said Indroama Ventures’ deputy CEO and group CFO DK Agarwal.

ALSO READ: Japan’s SMBC Group launches UK commercial banking subsidiary

“We are dedicated to embedding sustainable finance into every aspect of our daily operations as we build towards achieving our ESG targets,” Agarwal added.

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Sumitomo Mitsui Banking Corporation

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