MTC Signs US$60 Million Loan with FinDev Canada to Support MSMEs and Rural Women Entrepreneurs
Muangthai Capital Public Company Limited (MTC) is strengthening its cooperation with international development finance institutions through a US$60 million parallel loan agreement with FinDev Canada, Canada's development finance institution. The loan will support access to funding for micro, small and medium-sized enterprises (MSMEs), with a focus on women entrepreneurs in rural areas who face barriers to formal financial services. It reinforces MTC's commitment to financial inclusion and inclusive, sustainable growth in Thailand's grassroots economy.
The signing ceremony was held on 16 October 2026 at the Official Canadian Residence in Bangkok. Mr. Randeep Sarai, Canada's Secretary of State for International Development, delivered the opening remarks. Participants included Ms. Lori Kerr, Chief Executive Officer of FinDev Canada; Mr. Parithat Phatcharachai, Chairman of MTC's Executive Committee; Ms. Amanda Strohan, Canada's Ambassador to Thailand; and representatives of the Asian Development Bank (ADB) and Sumitomo Mitsui Banking Corporation (SMBC).
The FinDev Canada loan supplements the US$200 million A/B Syndicated Loan Facility co-arranged by ADB and SMBC, bringing total funding under the transaction to US$260 million. It reflects cooperation between international development finance institutions and leading financial institutions to improve access to funding for entrepreneurs in Thailand.
“We are very pleased to work with FinDev Canada, together with ADB and SMBC, to expand access to formal financing for MSMEs and women entrepreneurs, particularly in rural communities throughout Thailand. This cooperation reflects our shared commitment to inclusive access to financial services and sustainable economic growth, while strengthening MTC's ability to serve underserved customers nationwide,” Mr. Parithat said.
MTC continues to expand its loan portfolio in line with its business plan while advancing towards the World-class Thai Microfinance standard. The company focuses on quality growth, prudent risk management, good corporate governance and shared value for all stakeholders, supporting funding access for individuals and entrepreneurs in different areas and stable growth in the grassroots economy.
In terms of financial creditworthiness, MTC has received its first long-term corporate credit rating from Moody's Ratings at Ba2. Fitch Ratings has assigned an International Long-Term Issuer Default Rating (IDR) of BB and a National Long-Term Rating of A-(tha), while S&P Global Ratings has assigned a long-term issuer credit rating of BB-. All ratings carry Stable outlooks, reflecting credit assessments by three leading international rating agencies.
MTC has also received an Excellent corporate governance assessment (five-star CG Rating), an AA assessment under SET ESG Ratings, and the Best Social Bond Thailand award at The Asset Triple A Awards for Sustainable Finance 2026. These recognitions reflect its commitment to good governance, sustainable finance and inclusive access to financial services.
In international engagement, MTC participated in the IMF–World Bank Group Annual Meetings 2026 in Bangkok. Mr. Parithat Phatcharachai met and posed for photographs with Mr. Ajay Banga, President of the World Bank Group, and Mr. Sarvesh Suri, Regional Vice President for Asia and the Pacific at the International Finance Corporation (IFC). The meetings provided another opportunity to strengthen MTC's relationships with leading global financial organisations and connect Thai businesses with international financial institutions.
MTC aims to build on its partnerships to expand financial opportunities for farmers, small entrepreneurs, women entrepreneurs, and people who are unserved or underserved by formal financial services. Alongside responsible business practices, these efforts aim to strengthen small businesses and communities and support stable, inclusive and sustainable growth in Thailand's grassroots economy.
