Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), along with EXIM Thailand executives, recently participated in the official grand opening of the high-end lifestyle resort “SO/ Maldives” at the CROSSROADS Maldives project. This venture, jointly developed by S Hotels and Resorts Public Company Limited, and Wai Eco World Developer (WEWD), received syndicated loan from Bank of China (Hong Kong) Limited, Bank of China (Thai) Public Company Limited, and EXIM Thailand, through Dream Islands Development 3 Pvt. (DID3), totaling 48.16 million US dollars or approximately 1,734 million baht.
EXIM Thailand’s financial support, alongside its alliances for the CROSSROADS Maldives project, aims to promote prospective Thai entrepreneurs to invest in and develop world-class tourism and hotel business models within the environmental, social, and governance (ESG) framework. The project highlights cultural showcases, rigorous environmental conservation, including reef and endangered marine species protection, wastewater and waste management, and renewable energy utilization, certified by Green GlobeTM, the highest global standard for sustainable tourism and service providers. This endeavor also promotes the Blue Economy, fostering sustainable development based on marine and coastal resources. With a specific focus on the United Nations’ Sustainable Development Goal 14: Life Below Water, it aims to conserve and sustainably use oceans, seas, and marine resources for sustainable development, improving local livelihoods and simultaneously creating benefits for nature. The employment of Efficient Enterprise Risk Management (ERM) ensures streamlined processes and minimizes environmental impacts effectively.
The CROSSROADS Maldives project is a comprehensive tourist destination developed by Thai entrepreneurs on a newly constructed island near the international airport and Male, the capital of Maldives. CROSSROADS Maldives consists of three prominent resorts: Hard Rock Hotel Maldives, SAii Lagoon Maldives, and SO/ Maldives, along with integrated tourism facilities including beach clubs, marinas, and facilities for conferences and exhibitions. EXIM Thailand provides long-term loan support to Dream Islands Development 2 Pvt. (DID2) and Dream Islands Development 3 Pvt. (DID3), subsidiaries of S Hotels and Resorts Public Company Limited, aligning with the strategies and goals of EXIM Thailand towards becoming the Green Development Bank, driving sustainable development in the dimensions of economy, society, and the environment globally.