March 2021
Supplement
HBS Case Collection

Making Impact Investing Markets: IFC (B)

By: Shawn A. Cole, John Masko and T. Robert Zochowski

Format:Print
| Language:English
| Pages:8

Abstract

In 2018, Thailand’s Bank of Ayudhya (known as Krungsri), was considering whether to participate in the first issue of a new financial instrument from the International Finance Corporation (IFC), known as a gender bond. Building on the success of the Green Bond program at promoting investment in sustainable businesses, IFC intended the Gender Bond to encourage local banks to lend to woman-owned businesses. IFC was offering Krungsri substantial investment support with the bond, but getting the new instrument past Thai regulators and making sure that the proceeds were used properly presented substantial risk for the bank. Should Krungsri pull the trigger on its first Gender Bond?

Keywords

Impact Investment; Development Economics; Developing Countries and Economies; Borrowing and Debt; Credit; Equity; Bonds; Financing and Loans; Growth and Development; Emerging Markets; Non-Governmental Organizations; Corporate Social Responsibility and Impact; Financial Instruments; Gender; Financial Services Industry; Thailand

Citation

Cole, Shawn A., John Masko, and T. Robert Zochowski. "Making Impact Investing Markets: IFC (B)." Harvard Business School Supplement 221-081, March 2021.