Thailand

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. Next 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.

Highlights of ADB–Thailand Engagement in 2023:

Nonsovereign Cofinancing. The Trade and Supply Chain Finance Program (TSCFP) supported over 110 transactions valued at $27.3 million with banks domiciled in Thailand from inception to December 2023. During the same period, the TSCFP supported over 1,700 Thai exports and/or imports valued at $449.3 million. In 2023 alone, the TSCFP supported 60 transactions valued at $12.3 million with banks domiciled in Thailand and supported 155 Thai exports and/or imports valued at $39.2 million. Exports and/or imports were mainly to or 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.

Special Funds. 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 has gone to the Asian Development Fund (ADF). The ADF provides grants to ADB’s low-income, developing member countries to help reduce poverty and improve quality of life.

Knowledge. ADB’s Public Sector Management and Governance Sector Office organized a study visit for 15 senior officials from the Philippines’ Bureau of Internal Revenue to the Thailand Revenue Department (TRD). The visit was to learn about Thailand’s experience implementing value-added tax (VAT) on digital services and refunds for tourists. The study visit included a hands-on walk-through of TRD’s VAT refund processes and systems at the Don Mueang International Airport.