IFC and East Water Launch First Blue Bond in Thailand to Secure EEC Water Future

Jane Yuan Xu, IFC Country Manager for Thailand, emphasized the bond’s importance not only for infrastructure but also for economic growth.

Thailand’s Eastern Economic Corridor (EEC), the country’s flagship industrial and investment hub, is set to benefit from a new wave of sustainable infrastructure financing. The International Finance Corporation (IFC), a member of the World Bank Group, has announced its first-ever blue financing investment in Asia Pacific’s infrastructure sector by subscribing to East Water’s inaugural blue bond.

The 620-million-baht bond, issued on August 18, 2025, marks a milestone for East Water, Thailand’s largest private sector water supplier in the EEC region, which operates the country’s most extensive and integrated water transmission system. The proceeds from the bond will help East Water strengthen its financial resilience, maintain the quality of its 553-kilometer water pipeline network, and ensure uninterrupted water supply for households, industries, and businesses across the EEC.

Water Security as a Driver of Growth

Jane Yuan Xu, IFC Country Manager for Thailand, emphasized the bond’s importance not only for infrastructure but also for economic growth. “Water is not only essential to life, it’s also a powerful engine for economic growth. IFC’s investment will help water continuously flow into the EEC, a leading industrial and business hub, providing raw, tap, and industrial water for businesses and households throughout the region and supporting livelihood, growth and job creation,” she said.

The EEC currently hosts 27 industrial estates designated as promotional zones, forming a central pillar of the government’s “Thailand 4.0” strategy to transform the nation into a high-income economy by 2036. By 2032, the EEC is expected to generate 200,000 jobs, support advanced industrial and digital sectors, and provide housing for 350,000 people. Reliable access to water is therefore critical for sustaining both industrial expansion and community development in the region.

East Water’s Commitment to Resilience

Bordin Udol, President and CEO of East Water, hailed the bond issuance as a landmark achievement in sustainable water management. “East Water’s first blue bond issuance is a testament to our company’s commitment to improve the quality and supply of water and ultimately contribute to increased water security in the country. East Water is honored and highly appreciates that IFC values us as a strategic partner to deliver increased water security to the region,” he said.

The company’s integrated network connects government-owned reservoirs, rivers, and private reservoirs, making it the backbone of water transmission for the EEC. With this investment, East Water will have greater capacity to upgrade and future-proof its infrastructure against growing climate challenges, including water scarcity and droughts that threaten Thailand’s industrial regions.

IFC’s Expanding Blue Finance Agenda

Since the launch of the Blue Finance Guidelines in 2022, IFC has been actively directing global capital into projects that enhance ocean health, sustainable fisheries, wastewater management, and water resource security. The East Water project represents a major step in applying blue finance principles to inland water systems that are vital for industrial and community growth.

Katherine Koh, IFC’s Regional Industry Manager for Infrastructure and Natural Resources in Asia Pacific, highlighted the broader vision: “We are glad to support East Water with our global expertise in water and infrastructure sectors, climate and sustainability. This project is a key component of the World Bank Group’s ongoing initiatives to improve Thailand’s water resilience across various levels in the country.”

Thailand’s Global Role in Blue Economy Leadership

The World Bank Group is also partnering with Thailand’s Ministry of Finance and the Office of National Water Resources to improve nationwide water resource management through interministerial cooperation. This collaboration is expected to feed into Thailand’s broader strategy for climate resilience and sustainable growth.

The timing of this bond also holds global significance. Thailand will host the World Bank Group–IMF Annual Meetings in October 2026, which will showcase the country’s role in pioneering blue economy initiatives and highlight its leadership in sustainable water resource management and blue value creation.

By supporting East Water’s blue bond, IFC is not only financing infrastructure but also advancing a model of sustainable investment that reinforces Thailand’s role as a leader in climate-conscious development.