BANGKOK, Thailand – Veerathai Santiprabhob, the 20th governor of the Bank of Thailand, has introduced the concept for the Thailand Pavilion at the 2026 IMF-World Bank Annual Meetings.
Emphasizing Thailand’s role as host, he stated that the event is a key opportunity to present the nation’s development approach under the theme “Empowering People, Building Resilience.” The initiative seeks to show how society and the economy can empower citizens, strengthen resilience to volatility, and recover quickly from challenges.
He noted that the Ministry of Finance and the Bank of Thailand worked together to present Thailand’s core development principles. They agreed that His Majesty King Bhumibol Adulyadej the Great (Rama IX) exemplifies people-centric development and long-term national resilience. Over six to seven decades, His Majesty’s principles produced tangible results that improved the quality of life for Thai citizens and reinforced the country’s economic foundation.
Thailand Pavilion will showcase five key principles to address current and future global challenges. First, addressing large-scale issues starts at the local level, where community actions drive broader change. Second, the approach is people-centric, focusing on area-based development tailored to community needs rather than rigid bureaucratic processes.
Third, sustainable progress requires a step-by-step approach, as reflected in the philosophy of “Understand, Reach Out, Develop,” which emphasizes understanding issues before acting. Fourth, the principles support Nature-Based Solutions, allowing nature to restore itself, as seen in royal projects such as soil darkening, monkey cheeks flood-retention basins, and vetiver grass cultivation to prevent erosion.
Finally, building resilience to volatility sits at the heart of the Sufficiency Economy Philosophy. This focus on shock absorption applies at all levels, from individuals and families to communities and national economic management, drawing on lessons from the 1997 Asian financial crisis. Veerathai concluded that these five principles are proven practices from His Majesty King Rama IX’s reign, which Thailand aims to share as valuable development strategies with the global community. (NNT)
