ADB backs sustainable Thai growth

The Asian Development Bank’s country partnership strategy with Thailand for 2013-16 is aimed at supporting high, inclusive and sustainable economic growth by bringing knowledge and international best practices, contributing to private sector development and supporting regional cooperation and integration.

“Thailand sees an important role for the ADB in supporting our own development strategy to become a competitive, inclusive and green economy,” Somchai Sujjapongse, director-general of the Finance Ministry’s Fiscal Policy Office, said yesterday. “We look to the ADB to help scale up reform impacts and bridge development gaps in Thailand as a reliable partner in times of need and emergency.” 

Thailand is a strategic development partner and driver for greater regional integration and enhanced interregional cooperation. It also has much to offer to the region in terms of its development experience and knowledge, and the ADB is well positioned to help facilitate the sharing within the region, said James Nugent, director-general of the bank’s Southeast Asia department.

Remarkable progress notwithstanding, Thailand still faces complex development challenges. The ADB says it can add value by delivering strategic policy advice and capacity building, providing and catalysing public and private finance, supporting regional cooperation and integration and providing emergency support if needed.

The ADB will focus its operations on selective interventions in the areas of infrastructure, financial industry, climate change and regional cooperation. 

It will also provide technical assistance to the government in support of the implementation of the new policy and legal framework for public-private partnerships.

Through its private-sector window, the ADB will provide financial assistance to projects with high development impact and to which the bank can contribute value and mobilise private investment and financing. 

The ADB says it will pursue climate-friendly investments and opportunities in infrastructure related to energy, waste management and water supply. It will also focus its investments in the finance industry in the arenas of access to finance, environmental finance and affordable low-income housing. 

It will also seek opportunities to engage with local companies looking to invest in the region.

The ADB, based in Manila, is dedicated to reducing poverty in the Asia-Pacific region through inclusive economic growth, environmentally sustainable growth and regional integration. 

Established in 1966, it is owned by 67 members – 48 from the region. Last year, its assistance totalled US$21.6 billion (Bt683 billion), including co-financing of $8.3 billion.