EXIM invests in energy fund

 The 10-year fund, with Bt2.5 billion in full size, is managed by MFC Asset Management to lessen Thailand's dependence on energy import and promote the use of clean energy for environmental conservation.

 The investment contract was signed on Thursday.

 Apichai Boontherawara, president of the bank, said that the investment aligns with the government schemes to promote national energy security. With its investment policy focusing on the development of new energy sources, particularly, alternative and renewable energy from wind, water, solar power and bio-fuel, the Fund will help reduce Thailand's dependence on energy import amid the soaring oil prices.

 This year EXIM Thailand's Investment Banking Department has allocated Bt1 billion to invest in high-potential businesses lacking necessary fund to nurture their long-term growth. This debut investment in the MFC Energy Fund will benefit not only the energy sector but also the agricultural sector which provides raw materials to alternative energy industries. Also, EXIM Thailand will gain additional income from investing in energy businesses that have high potential and a promising future.

 The fund is invested primarily by 11 leading financial institutions, institutional investors and energy firms.

- The Nation