EXIM Thailand Finances SHR Group’s Development of Crossroads Maldives
EXIM Thailand Finances SHR Group’s Development of Crossroads Maldives Project to Construct Fully Integrated
Mr. Ittipol Lertsakthanakul, Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), Mr. Joseph Wan Huat Chia, Executive Vice President of Bank of China (Thailand) Plc. (BOCT), and Mrs. Thitima Rungkwansiriroj, Chairman of the Executive Committee, S Hotels & Resorts Plc. (SHR) joined the event to celebrate the successful collaboration between EXIM Thailand, Bank of China (Hong Kong) Ltd. (BOCHK) and BOCT in provision of a syndicated loan worth a total of 157.62 million US dollars or approximately 5,517 million baht to Dream Islands Development 2 Private Ltd. and Dream Islands Development 3 Private Ltd. of the SHR Group at SHR’s Head Office, Bangkok on August 11, 2023. The syndicated loan is aimed to support the SHR Group’s investment in development of Crossroads Maldives Project, an all-encompassing leisure and entertainment destination in the Republic of Maldives. The project includes the development of three resorts, i.e. Hard Rock Hotel Maldives, SAii Lagoon Maldives Hotel and So/ Maldives Hotel, alongside such facilities as beach clubs, a sea port and various MICE-related ventures.
EXIM Thailand has participated in this loan syndication with the objective to support Thai entrepreneurs with promising prospects and sustainable business practices with environmental, social and governance (ESG) concerns taken into account. The Crossroads Maldives project is a full-fledged megaproject offering a world-class multi-resort complex in the Republic of Maldives with the Green GlobeTM standard certification. It reflects sustainable, socially conscious and environmentally responsible business operations and promotion of economic development on the basis of sustainable exploitation and regeneration of marine and coastal resources (blue economy), particularly under the United Nations’ Sustainable Development Goals 2030 (SDGs 2030), Goal 14 (Life below Water) regarding conservation and sustainable use of the oceans, seas and marine resources for sustainable development, which is in line with EXIM Thailand’s vision and policy under its role as “Green Development Bank” to drive the country’s trade and investment strategies and sustainable development of Thailand and the world at large.
