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WB urges Thailand to prioritize sustainable flood management

WB urges Thailand to prioritize sustainable flood management

13 Sept 13:56 Key points summarised by AI
  • The World Bank (WB) urged Thailand to adopt sustainable, long-term strategies for climate resilience, highlighting the severe economic impact of frequent flooding, such as the 2011 floods that cost over 5% of GDP.
  • The WB is collaborating on a $2.2 billion infrastructure project for the Chao Phraya River Basin, aiming to significantly reduce flood risks and implement comprehensive water management in this economically crucial region.
  • Beyond flood management, the WB stressed the importance of sustainable finance to accelerate green initiatives, foster low-carbon growth across cities, and drive innovation to enhance Thailand's competitiveness and alleviate poverty.
  • To achieve its economic ambitions and high-income status, Thailand should pursue greater economic openness, implement reforms to encourage competition, and strategically position itself as a regional business hub.
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