The Neighbouring Countries Economic Development Cooperation Agency (Public Organization), or NEDA, successfully issued a 1-billion-baht Social Bond with a 10-year maturity and a fixed annual interest rate of 3.13 percent on September 24, 2026. The bond was offered through a private placement to no more than 10 institutional investors, with Government Savings Bank (GSB) serving as the bond distributor. The full targeted amount was successfully placed. The issuance marked the first time that a public organization in Thailand had issued a Social Bond and successfully raised funds through the financial instrument. The achievement reflected institutional investors' confidence in NEDA's role and mission, as well as its commitment to using financial instruments aligned with Sustainable Finance principles to support economic and social development in neighboring countries.
Mr. Kirati Veruwan, Vice President of NEDA, said the successful Social Bond issuance marked an important step in the agency's use of new financial instruments to support its development mission and reflected the confidence institutional investors have placed in NEDA. The success resulted from close cooperation among key partner agencies. The Public Debt Management Office (PDMO) played a role in securing financing for NEDA and supporting the fundraising process through the Social Bond issuance. GSB served as the bond distributor, while the Asian Development Bank (ADB) provided technical assistance in developing the Social Bond Framework, an important element in aligning NEDA's fundraising activities with international standards. DNV (Thailand) Co., Ltd. served as the independent provider of the Second Party Opinion. Cooperation among all participating sectors in financing, distribution and social-finance expertise played an important role in enabling NEDA's first Social Bond issuance to meet its target despite challenging conditions in the bond market.
The funds raised will support infrastructure development projects producing tangible economic and social benefits in neighboring countries and further strengthen NEDA's role in using financial instruments to promote sustainable economic and social growth. Proceeds from the Social Bond will be used as a financial instrument to restructure NEDA debt associated with two infrastructure development projects intended to improve community access to essential public utilities in the Lao People's Democratic Republic. The first is the Development of National Road No. 11 (R11) Project (Khokkhawdo - Non Sawan - Sanakham - Ban Vang - Ban Namsang). The second is the Construction of the Fifth Thai–Lao Friendship Bridge (Bueng Kan–Bolikhamxay) Project. Both projects play a role in infrastructure development and in strengthening economic and social connectivity between Thailand and neighboring countries, while improving access to opportunities and essential public services for people in the affected areas. The projects are aligned with the United Nations Sustainable Development Goals (SDGs).
NEDA received an organizational credit rating of “AAA” with a “Stable” outlook from TRIS Rating Co., Ltd. on June 18, 2026. The rating reflects NEDA's strong linkage with the Thai government as a Government-Related Entity (GRE) and its important role in implementing public policy on international development cooperation, including its function as an important government mechanism for promoting economic connectivity with neighboring countries. The successful Social Bond issuance represents another important step for NEDA and its partners in advancing sustainable development finance and generating continued positive impacts on the economy, society and infrastructure development across the region.
