PRESS RELEASE November 28, 2018

Thailand and the World Bank Group Renew their Partnership to Transform Thailand Together

WASHINGTON, November 27, 2018 – The World Bank Board of Directors endorsed today a new Country Partnership Framework for Thailand, defining the strategic focus of the World Bank Group’s engagement with the country from 2019 to 2022. This partnership framework will support Thailand’s transformation towards an innovative, inclusive, and sustainable economy.

The Country Partnership Framework is a joint strategy of the World Bank Group’s International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the Royal Government of Thailand. The World Bank has been a development partner of Thailand since 1949. Over the past 70 years, the World Bank has supported projects in education, agriculture, telecommunications, infrastructure, water resource management, energy, public sector development, and health.

“For almost 70 years, the World Bank Group has been privileged to partner with Thailand. In the last 30 years, the country has stood out as a global leader in economic growth and poverty reduction,” said Mara Warwick, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand. “Our new knowledge-based partnership reflects the dynamism of Thailand as a high middle-income country with many successful development experiences to share as well as challenges to still address.”

The Country Partnership Framework is aligned to the country’s first 20-Year National Strategy (2017-2036) and the Royal Thai Government’s 12th National Economic and Social Development Plan.

The World Bank Group will engage predominantly through reimbursable and trust-funded Advisory Services and Analytics, while leaving open the possibility of future World Bank Group financing based on government demand.

“Our new partnership identifies the best strategies to revive growth while strengthening inclusion and sustainability,” said Birgit Hansl, World Bank Country Manager for Thailand. “It will seek to improve the lives of people living in Thailand, through more and better jobs, better quality of education so children are better equipped for the jobs of the future, and by ensuring that the poor and marginalized also benefit from Thailand’s prosperity.”

The International Finance Corporation will continue to provide both financing and advisory services to the private sector in support of inclusive growth. The Multilateral Investment Guarantee Agency will support eligible investments through its credit enhancement and political risk insurance covers.

The International Finance Corporation will promote the development of sustainable infrastructure, create an enabling environment for climate finance and sharpen our cross-border efforts to export Thai capital and expertise to countries and sectors where it is needed the most,” said Vikram Kumar, IFC Country Manager for Thailand and Myanmar. “Through this new partnership, we will also harness innovation and use technology and digital platforms to both create and expand access to information and reduce cost of services to the most vulnerable in Thailand.”

The Country Partnership Framework is anchored around a broad and programmatic engagement on Thailand’s transformation towards greater inclusion, resilience and competitiveness with the following objectives:

  • Improving the business environment through promotion of competition and innovation.
  • Strengthening fiscal and economic institutions.
  • Enhancing the quality of infrastructure investments in the railway sector.
  • Addressing climate change and water resources management.
  • Promoting quality education.
  • Supporting inclusion of vulnerable groups, particularly in the fragile, conflicted areas of Southern Thailand.

Country-wide consultations took place during the preparation of the Country Partnership Framework and have informed its objectives and programmatic priorities.

Last Updated: Nov 28, 2018


PRESS RELEASE NO: 2019/090/EAP

Contacts

In Bangkok
Kanitha Kongrukgreatiyos
+662-686-8385
+668-1846-1246
kanitha@worldbank.org
In Washington DC
Marcela Sanchez-Bender
+1 (202) 473-5863
msanchezbender@worldbank.org
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