Main photo: Melinda Good
The World Bank (WB) has raised concerns over Thailand’s vulnerability to frequent flooding, urging the government to adopt sustainable, long-term strategies for climate resilience.
Melinda Good, WB’s Country Director for Thailand and Myanmar, emphasized the economic toll that floods have taken on the nation, particularly citing the devastating 2011 floods that cost over 5% of Thailand's GDP.
With recent floods causing further strain, she stressed the need for a prompt assessment to understand the impact and shape future response strategies.
“Flood management is central to our discussions with every level of government, including the ministries of Water Resources and Finance,” Good told Thai PBS World.
“The 2011 floods are still fresh in everyone’s memory, and there’s real concern about a recurrence. Planning to mitigate future impacts must begin now.”
Good highlighted that this year’s floods, while affecting only about 1% of the GDP, underscore the urgency of a long-term approach.
She revealed that the WB is collaborating with the government on a $2.2 billion infrastructure project for the Chao Phraya River Basin, aiming to reduce flood risks in this economically crucial region, which generates 65% of Thailand’s GDP.
“This project will create pathways for climate resilience beyond quick fixes; it’s about comprehensive water management,” Good explained.
Good also emphasized the WB’s sustainability agenda with Thailand, which includes platforms focusing on finance, urban development, and innovation.
With Thailand committed to achieving net-zero emissions by 2065, she urged the government to prioritize sustainable finance as a means of accelerating green initiatives and easing the emissions-reduction burden.
While Bangkok is the economic center, Good advocated for investments in low-carbon growth and climate resilience across other cities to foster economic equity.
She also stressed the need for innovation to bolster Thailand’s competitiveness and alleviate poverty.
Though Thailand’s goal to reach high-income status by 2030 requires 7% annual GDP growth, WB forecasts place growth at 2.4% in 2024 and 3.0% in 2025.
Good explained that investment, infusion, and innovation are essential for achieving Thailand’s economic ambitions, noting, “More innovation is crucial for Thailand to remain competitive.”
To stimulate innovation, Good recommended greater economic openness, with reforms to encourage competition, financing, and access to technology, particularly for small and medium enterprises.
With global supply chains shifting from China to Southeast Asia, she underscored the importance of positioning Thailand as a regional hub with an inviting business environment.
Regarding the humanitarian crisis in Myanmar, Good confirmed that the WB is working alongside NGOs and international partners to deliver support and sustain livelihoods.
“Thailand’s proximity to Myanmar means close cooperation is crucial. We’ve had productive discussions with the Thai government on how best to assist,” she said.
