Listen to the article
The Government of Thailand has two agencies authorized to administer the country’s official development assistance. First is the Thailand International Cooperation Agency under the Ministry of Foreign Affairs, which is responsible for providing technical cooperation and other forms of development cooperation. The second agency is the Neighboring Countries Economic Development Cooperation Agency, a public organization under the Ministry of Finance that is responsible for providing financial assistance. Some ministries, such as the Ministry of Commerce and the Ministry of Labor, make their monetary contributions to international organizations directly.
Thailand is a founding member of ADB and has, since 1966, committed $23.1 million to ADB special funds. Of this commitment, $21.3 million is for the Asian Development Fund (ADF). The ADF provides grants to ADB’s low-income, developing member countries to help reduce poverty and improve the quality of life.
Development Cooperation under Thailand International Cooperation Agency
9 December 2024
ADB assisted the Public Debt Management Office under the Ministry of Finance of Thailand in issuing the first sustainability-linked sovereign bond (SLB) in Asia. This was the third SLB in the world after Chile and Uruguay.
28 November 2024
ADB and Gulf Renewable Energy Company Limited, a subsidiary of Gulf Energy Development Public Company Limited, signed an $820 million loan to provide construction financing for a portfolio of 12 renewable energy projects across Thailand.
5 July 2024
ADB Vice-President for East and Southeast Asia and the Pacific, Scott Morris along with ADB Country Director Anouj Mehta, launched a new climate finance-focused program in Thailand with the Ministry of Natural Resources and Environment’s Department of Climate Change and Environment Director General Phirun Saiyasitpanich during Mr. Morris’ visit to the country on 24–28 June 2024.
23 January 2024
ADB and BANPU Public Company Limited signed a B2.4 billion loan to support the financing of 1,500 six-seater electric tuktuks and related charging stations for micro-scale transit services in Bangkok, Thailand.
The Monsoon Wind Power Company is building a wind power plant in the Lao People’s Democratic Republic. ADB, multilateral organizations, and private sector partners are cofinancing what is poised to become the largest wind power facility in Southeast Asia.
ADB supports the e-mobility transition in Thailand, with more than $450 million in private capital mobilization, to help alleviate traffic congestion and reduce carbon emissions originating from the transport sector in Bangkok and other metropolitan areas.
ADB supported Thailand’s first social bond issuance from a state-owned financial institution, the Government Savings Bank. The bond, worth B10 billion ($295 million), was issued in accordance with the Association of Southeast Asian Nations’ Social Bond Standards.
ADB and Thailand collaborated on several knowledge products and events including the following:
This publication presents case studies on the successful application of science, technology, engineering, and mathematics education in Thailand, the Republic of Korea, Singapore, and Finland.
Thailand contributes to ADB’s development initiatives through two key avenues: Cofinancing and Special Funds.
Nonsovereign Cofinancing. The Trade and Supply Chain Finance Program (TSCFP) supported over 150 transactions valued at $31.5 million with banks domiciled in Thailand from 2009 to 2024. During the same period, the TSCFP supported over 1,840 Thai exports and/or imports valued at $488.2 million. In 2024 alone, the TSCFP supported 36 transactions valued at $4.3 million with banks domiciled in Thailand and supported 130 Thai exports and/or imports valued at $36 million. Exports and/or imports were mainly to/from Viet Nam, Bangladesh, and Pakistan. Underlying goods involved mostly raw and non-energy commodities, food and agriculture-related goods, as well as consumer goods.
