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Together with the Fiscal Policy Office (FPO) and the Government Savings Bank (GSB) and German Sparkassenstiftung Foundation for international Cooperation (DSIK) has established the project “Strengthening of Financial Capability in the Kingdom of Thailand” to improve the socio-economic living conditions in the rural areas, especially in the north-east of the Kingdom of Thailand (Isaan). A lack of financial capabilities and economic understanding substantially contributes to poverty, insufficient savings and over-indebtedness, it also impedes that the inhabitants of these regions are able to exploit all economic chances and possibilities.
The project’s target groups are grassroot people (i.e. poorer households) as well as students of GSB-affiliated school banks in the pilot provinces of Nongbua Lampoo, Nong Khai, Sakon Nakhon, Ubon Ratchathani, Sisaket, and Khon Kaen.
The project aims at strengthening the financial capabilities of these target groups. To achieve this, GSB’s capacities to address the target groups’ financial capability needs should be strengthened through project interventions like training and coaching of trainers (GSB staff) who implement needs-based participatory FL trainings with the target groups. The FL-trainings developed by the project address topics on Money Management, Debt Management and Savings. In selected schools the Savings Game, a board-based simulation, is implemented through GSB-trainers. Another important result area of the project is liaising with project relevant actors within and beyond the financial literacy sector. The exchange should help to learn from each other and to identify possible partners. Since April 2021 the project is utilizing digital channels to promote FL as well. The e-learning version of the Money Management training was developed in Thai and English languages. The Debt Management e-learning courses is in process of development.
The project is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ). Funding is secured until 31st July 2023 (first project main phase). Furthermore, the project is supported by partnering with a German Sparkasse (Savings Bank), namely the Sparkasse Allgäu.
For more details about our project, click to see our video.