Export Finance Australia and Thai EXIM sign memorandum of understanding to strengthen regional collaboration
Export Finance Australia and Export-Import Bank of Thailand have signed a new Memorandum of Understanding to deepen their cooperation across Southeast Asia.
Media release
19 December 2024
Export Finance Australia (EFA) and Export-Import Bank of Thailand (Thai EXIM) have signed a new Memorandum of Understanding (MoU) to deepen their cooperation across Southeast Asia.
The MoU reinvigorates EFA and Thai EXIM’s efforts to work together in areas of mutual interest, including the development of strategic co-financing arrangements.
It also highlights opportunities for new partnerships in Southeast Asia’s energy transition, including in renewable energy and clean energy transportation infrastructure.
This signing builds on EFA’s commercial growth in the region, demonstrated most recently through its support of Gulf Energy’s major solar power project in Thailand.
It also reflects the success of the Australian Government’s Southeast Asia Investment Deal Teams, which are fostering stronger regional partnerships to support Australian investment in the region.
The signing ceremony, held at EFA’s head office in Sydney, was attended by His Excellency Paopoom Rojanasakul, Thailand’s Deputy Minister of Finance.
EFA Managing Director and CEO, Mr John Hopkins, said, “As part of the Australian Government’s implementation of the Southeast Asia Economic Strategy to 2040, EFA is enhancing engagement with our counterpart export credit agencies across the region to deliver new investment opportunities.”
“This MoU strengthens the relationship between EFA and Thai EXIM and will drive new areas of cooperation and investment in priority sectors, aligned with the Strategy.”
The Deputy Minister of Finance, Mr Paopoom Rojanasakul, added, “This MOU, focused on co-financing arrangements and on-lending programs, will undoubtedly unlock new opportunities for businesses in both countries, particularly in the promising sectors of renewable energy and sustainable infrastructure.”
Media contact:
Eleanor Brophy, +61 400 806 103, media@exportfinance.gov.au
About Export Finance Australia (EFA)
EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium sized enterprises to large corporates, foreign governments and infrastructure projects, we help Australian businesses take on the world. In doing so, EFA finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including Housing Australia and the Northern Australia Infrastructure Facility.
About Export-Import Bank of Thailand (Thai EXIM)
Export-Import Bank of Thailand (Thai EXIM) is a state-owned specialised financial institution under the Ministry of Finance’s supervision. It was established by the Export-Import Bank of Thailand Act, 1993 (B.E. 2536), which took effect on 7 September 1993. Thai EXIM’s objective is to conduct business which promotes and supports Thai export, import, and investment for the purpose of national development by providing credit facilities, guarantees, insurance against risks, or other services conducive to the achievement of its goals.
Thai EXIM is commited to its greenovation strategy and plays its role as a Green Development Bank by encouraging Thai entrepreneurs to build the green export supply chain from upstream to downstream so business is done in a sustainable manner. Thai EXIM also focuses on supporting businesses that place importance on Environmental, Social, and Governance (ESG) priorities, which has always been reflected in Thai EXIM’s financial products that help reduce greenhouse gases in scopes 1, 2 and 3.
