The Asian Development Bank (ADB) has endorsed a new 5-year country partnership with Thailand to achieve its goal of becoming a high-income nation through sustainable economic growth.
Under the 2021–2025 strategy, ADB’s programs and projects will help Thailand recover from the Covid-19 pandemic, strengthen sustainable and low-carbon growth, improve physical and digital connectivity, and resolve constraints to private sector expansion. ADB will also share best practices in critical areas such as regional cooperation, climate change, and urbanization, as well as aging and other emerging social issues.
The strategy will be supported by a 2021–2023 lending program of five projects totaling USD 1.6 billion in sectors such as transport and energy. ADB also plans to provide USD 1 million in technical assistance to facilitate knowledge sharing in and out of Thailand, especially with its regional partners.
Financing for private sector operations will target environmental solutions – sustainable energy, transport, waste management and clean water, food safety, household and community resilience, and agricultural development – and social sector investments to meet basic human needs and propel equality and inclusive socio-economic growth.
To support Thailand’s role in regional development, ADB will implement a Country Knowledge Plan to provide policy advice, technical assistance, and coordination with other development partners in the country.
(Source: Asian Development Bank)