[vc_row full_width=”container-fluid” el_class=”gsb-optimize”][vc_column css_animation=”fadeInUp”][vc_single_image image=”261102″ img_size=”full” alignment=”center” el_class=”full_img_desktop”][vc_single_image image=”261102″ img_size=”full” alignment=”center” el_class=”full_img_mobile”][\/vc_column][\/vc_row][vc_row el_class=”gsb-optimize” css=”.vc_custom_1640320254468{margin-top: -50px !important;}”][vc_column css_animation=”fadeInUp”][vc_row_inner css=”.vc_custom_1642502471057{margin-bottom: 30px !important;padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;background-color: white !important;}”][vc_column_inner css=”.vc_custom_1642502455302{padding-right: 0px !important;padding-left: 0px !important;}”][vc_column_text]<\/p>\n
Government Savings Bank was part of the environmental conservation project to reduce and phase out ozone-depleting substances in Thailand according to the Cabinet resolution on October 7, 2003. GSB acted as a financial agent for this project to help relevant entrepreneurs reduce and phase out ozone-depleting substances causing global warming. An environmental conservation project unit was set up to manage a grant fund from the Ozone Projects Trust Fund (OTF) according to the Montreal Protocol on substances that deplete the ozone layer enforcing the phase-out of the production and consumption of ozone depleting substances and to participate in the campaign and raise awareness among the public to realize the importance of the ozone layer.<\/p>\n
After successfully completing the operation for the chlorofluorocarbon (CFCs) sector consisting of both refrigerants used in automotive air conditioning systems, refrigerators, freezers, metal parts cleaners, electronic circuit board and propellants used in aerosol products, GSB was assigned by the Ministry of Finance to collaborate with the Department of Agriculture to provide financial support for entrepreneurs who use methyl bromide, another type of substance depleting the ozone layer, to switch to use phosphine in fumigating agricultural products instead as it was environmentally friendly and the depletion of the ozone layer was lower than of the methyl bromide. The project ended on December 31, 2013.<\/p>\n
Subsequently, the Ministry of Finance assigned GSB to serve as a financial agent for the Stage I Hydrochlorofluorocarbon Phase Out Project, with a total grant fund of USD 16.85 million during 2013-2018 (6 years) according to the agreement between the World Bank and the Thai government to help entrepreneurs in the air conditioning industry and the foam production industry to modify equipment and phase out HCFCs in the production process by switching to alternative substances that did not deplete the ozone layer and had no adverse impact on the global climate. The project was successfully completed within the specified timeframe on December 31, 2018.<\/p>\n
In 2019, the World Bank would like GSB to continue as a financial agent for the Stage II Hydrochlorofluorocarbon (HCFC) Phase Out Project to ensure continuity of the project\u2019s operations. The World Bank submitted a request to the Public Debt Management Office to issue a letter to GSB to request for official cooperation for the project\u2019s implementation. At the GSB Board of Directors\u2019 meeting No. 6\/2019 on June 18, 2019, the Board approved GSB to continue as a financial agent for the Stage II HCFC Phase Out Project.<\/p>\n
[\/vc_column_text][vc_custom_heading text=”Key information of the Stage II HCFC Phase Out Project is as follows: ” heading=”h3″][vc_column_text]<\/p>\n
Stage II project provides financial aid for the replacement of equipment and chemicals used in the spray foam and commercial refrigeration sector. The grant fund was USD 5.08 million (Including parts of the Department of Industrial Works and Government Savings Bank). The project starts from 2019 – 2023 (5 years), with a credit limit to help entrepreneurs of USD 1.92 million or approximately 57.48 million baht. Under this project, entrepreneurs will receive financial and technical assistance to switch their production processes to alternative technologies that do not deplete the ozone layer.<\/p>\n
[\/vc_column_text][vc_custom_heading text=”Industrial sectors that received grant funds by the World Bank:” heading=”h3″][vc_column_text]<\/p>\n
[\/vc_column_text][vc_column_text]<\/p>\n
Entrepreneurs interested in participating in the project must submit proposals for sub-projects (Proposal) and management plans for existing equipment\/tools (Disposal Plan), including Environmental Management Plan (EMP) to the Department of Industrial Works for consideration, review, and confirmation of the eligibility for financial assistance. Afterward, the Bank will prepare an appraisal report for sub-projects (Appraisal Report), contracts as well as disbursement of grant funds to entrepreneurs throughout the project implementation period.<\/p>\n
Therefore, this project is highly beneficial to the community and environment. It promotes community participation and raises awareness among the public to realize the importance of the ozone layer and help reduce global warming which aligns with the Bank’s policy to support the society under its role as a Social Bank.<\/p>\n
[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n","protected":false},"featured_media":261105,"template":"","tags":[],"csr":[1272,1448,1449,1447],"yoast_head":"\n