รัฐบาลไทย-ข่าวทำเนียบรัฐบาล-​PM reaffirms Thailand’s readiness to support international collaboration on Financing for development
วันพฤหัสบดีที่ 21 กันยายน 2566
​PM reaffirms Thailand’s readiness to support international collaboration on Financing for development
​PM reaffirms Thailand’s readiness to support international collaboration on Financing for development
September 20, 2023, at 11.49 hrs (local time), at the Trusteeship Council Chamber, United Nations Headquarters, New York, Prime Minister and Minister of Finance Srettha Thavisin delivered a statement at the High-level Dialogue on Financing for Development, which is held once every 4 years during the UNGA High-Level Week. This is the second meeting of its kind, and was held under theme: “Financing the SDGs for a world where no one is left behind”. Government Spokesperson Chai Wacharonke disclosed gist of the Prime Minister’s Statement at the meeting as follows:
According to the Prime Minister, the Thai Government has strong belief that the success of SDG attainment rests financing for development, especially for developing countries, and that international financial architecture must be reformed to mobilize financing for development in a comprehensive manner. In this regard, he highlighted three important aspects of increasing financing for development.
First, on participation and governance. Developing countries should play a greater role in international financial institutions. This should be aimed at improving fiscal sustainability to better tackle the high cost of debt and rising risks of debt distress, especially in developing countries. The Thai Government and the UNESCAP will jointly organize a policy dialogue on “Sustainable Finance: Bridging the Gap in Asia and the Pacific” on October 2, 2023 in Bangkok. This policy dialogue will produce concrete recommendations to promote financing for development in the region, in a more comprehensive and inclusive manner. Thailand also supports the expansion of lending capacity of multilateral development banks (MDBs) to better leverage private capital for development projects. This expansion of regional mechanisms to increase liquidity in crisis situations, is vital.
Second, international financial architecture reform should enhance international cooperation for the advancement of digital technology and digital economy. The focus must be on reducing transaction costs while expanding financial inclusion, particularly for MSMEs. Developing nations should play a significant and enhanced role in shaping global policies on data security, transparency, and governance of emerging technologies, especially fintech, to facilitate increased financing for development.
Third, climate protection, development and poverty reduction must go hand in hand. The reform should address increasing demand for investment in and financing of climate-friendly, sustainable projects and promote the cooperation and coherence in international undertakings in sustainable finance. Thailand has continued to issue ‘sustainability bonds’ and other ESG-related instruments in the capital market since 2020. Currently, 12.5 billion USD has been raised through this mechanism to fund multiple projects, including a new underground transit and improvement to water management systems. Next year, Thailand plans to issue another set of Sustainability Linked Bonds to stimulate the growth of Green Bond market, and to ensure that all entities involved are properly incentivized to achieve sustainability goals. ‘Thailand Taxonomy’ framework has also been developed to make certain that every dollar raised through this mechanism is truly used for the betterment of sustainable developments, now and in the future.
In closing, the Prime Minister expressed hope that novel ideas and proposals produced at this Dialogue will be reflected and further elaborated in the seventy-eighth session of the UNGA and future high-level meetings, and reaffirmed that Thailand stands ready to support international collaboration on financing for development and to be an active participant in policy conversations on this issue.