East Water, founded under the resolution by the Cabinet of Thailand in 1992 and currently 40% owned by the Provincial Waterworks Authority of Thailand, operates raw water, tap water, and industrial water business in the Eastern part of Thailand. It is listed on the Stock Exchange of Thailand with a market cap of ~US$106 million (as of 20 August 2025).

The IFC financing is part of the THB620 million blue bond issuance of East Water on 18 August 2025.

The Company and the Project are located in Thailand. The location of the water pipeline grid is in Chachoengsao, Chonburi, and Rayong provinces in Eastern Thailand.

This is a Category B project. Key E&S risks include ensuring that there is an IFC compliant ESMS for operations; fair, safe and healthy working and living conditions; OHS risks for employees and contract workers; provision of potable water of desired quality to consumers, waste disposal; hazardous materials storage and handling; and community health and safety; and social impact risks related to access, stakeholder engagement and grievance management. Biodiversity, cultural heritage and indigenous people risks are low as the provinces are in highly modified landscapes and hence IFC’s review has identified no risks and adverse impacts of the project that need to be managed consistent with PS5 (Land Acquisition and Involuntary Resettlement), PS6 (Biodiversity, Ecosystem Services and Natural Resource Use), PS7 (Indigenous Peoples) and PS8 (Cultural Heritage). The water pipelines are located along existing easements, hence historic land acquisition is not anticipated to be a significant risk.  Overall, the Company is likely to manage these risks through mitigations, including an ESMS and stakeholder engagement.