Country
Thailand
Local project partners
Government Savings Bank (GSB) (implementation),
Ministry of Finance / Fiscal Policy Office (FPO) (oversight)
German project partner
Sparkasse Allgäu
Donor
German Federal Ministry for Economic Cooperation and Development (BMZ)
Duration
01.08.2017 - 31.07.2023
Although Thailand has developed very positively in the last two decades and poverty has declined significantly since the 1980s, rural, predominantly agricultural areas remain excluded. In terms of socio-economic development, particularly the agricultural northeast of the country is lagging behind.
The project aims to improve socio-economic living conditions in the disadvantaged northeast of Thailand. One of the reasons for the backward development is the lack of financial literacy among the population. As a result, existing products for long-term savings are not used, there are no sufficient reserves for emergencies, indebtedness and over-indebtedness are widespread and, finally, economic potentials remain unused.
Therefore, the project’s objective is to strengthen the financial literacy of private individuals and school students in selected regions of Thailand.
Project Tasks
The achievement of the project objective is aimed at through the following three project focal points:
- the Government Savings Bank's (GSB) capacity to design and implement needs-based financial empowerment services for the target groups is strengthened and utilized.
- the GSB's “school bench project” is used as a learning platform for the implementation of financial literacy training.
- the partnership project is networked with other financial education stakeholders.
