“The Role of Finance and Banking for the Prosperity of Asia” Speech by Dr. Veerathai Santiprabhob Governor of the Bank of Thailand IIF lunch seminar during the 50th Anniversary ADB Annual meeting 6 May 2017, Yokohama, Japan Mr. Timothy Adams, President of the Institute of International Finance, IIF fellows, distinguished guests, ladies and gentlemen, A very good afternoon to you all. I am honoured to be here today and be a part of this remarkable event celebrating the 50th anniversary of the Asian Development Bank. I would like to thank the Institute of International Finance for hosting this lunch seminar and for inviting me to share with you my thought. Throughout the past five decades of the Asian Development Bank, the ADB has been a trusted development partner of the public and private sectors in Asia. Its lending packages, technical assistance along with policy dialogues have been tailored to specific needs of member countries, and have helped reduce poverty and laid foundations for inclusive and sustainable growth in Asia. Evidently, the number of people living in extreme poverty has fallen markedly across Asia throughout the past decades. Half a century is an important milestone. It is an opportune time to look back and look forward. My topic for today is “The role of Finance and Banking for the Prosperity of Asia”.
Besides, as technology advancement permeates into all businesses, all lifestyles, and all sectors, if we also could ensure that households and small businesses that make up the majority of our economic agents can practically apply and benefit from the new technology, while being aware of its associated risks, then we could significantly raise their standards of living. Ladies and gentlemen, That brings me to the end of my talk today. To aspire for a better standards of living for all citizens of Asia for the next half century and more, we, all of us, must collectively do our part to ensure inclusive and sustainable growth. In so doing, banks and financial institutions, as the blood vessels of our economy, have important roles to play to prevent the blood from being infected as well as to ensure the well-functioning of our blood circulation for more productive, better immuned, and more inclusive economies in Asia. Thank you very much for your kind attention. 6