BANGKOK, October 19, 2026 — Thailand and the World Bank Group highlighted a new approach to helping the country lower energy costs, reduce its reliance on imported fuels and attract private investment to create jobs.
The event, held during the 2026 IMF-World Bank Group Annual Meetings in Bangkok, brought together Deputy Prime Minister and Minister of Finance Ekniti Nitithanprapas, World Bank Group President Ajay Banga, senior government officials, financial institutions and business leaders.
The initiative demonstrates how governments can use public financing to build the systems that make it easier for businesses and private investors to invest in clean energy at scale.
At the center is the US$200 million World Bank-supported Low Carbon Cities and Carbon Market Development Project (LCC). The project helps public buildings, cities and industrial estates invest in rooftop solar power and energy-efficient technologies, reducing electricity bills and dependence on fossil fuels.
The project is expected to support up to 180 megawatts of renewable-energy capacity and save approximately 448 million units of electricity each year—roughly equivalent to the annual electricity use of 100,000 Bangkok-area households.
Beyond financing individual projects, LCC is building a system that can be expanded nationwide. By combining smaller investments into larger packages, standardizing financing arrangements and bringing in private energy-service companies, the initiative makes clean-energy projects easier and more attractive to finance.
Developing a market for carbon credits is another important part of this approach. Companies can purchase credits linked to independently verified reductions in emissions, creating an additional source of revenue that can encourage further investment in renewable energy and energy efficiency.
Krungthai Bank will bring eligible carbon credits together for sale, while the Stock Exchange of Thailand will support transparent auctions connecting sellers and buyers. At the event, Thai Airways, Grab, ACEIS Electric and Power Co. Ltd., and DriverAI were recognized as prospective anchor buyers. Their interest signals essential corporate demand to support market creation.
Thailand is also strengthening the policies and institutions needed to support this market. The World Bank is providing US$2.4 million through its Partnership for Market Implementation to support the Department of Climate Change and Environment in developing carbon-pricing policies, market rules and measures to help businesses and workers adjust to the energy transition. Krungthai Bank is contributing a further THB20 million to support the transition agenda.
Looking ahead, PTT’s I-SPARK initiative in Rayong offers an opportunity to expand this model into one of Thailand’s major industrial centers. The initiative aims to attract investment in clean energy, sustainable fuels and shared industrial infrastructure. PTT estimates potential investments exceeding US$5 billion, with opportunities to support more than 13,000 jobs by 2035.
The World Bank Group could explore further support, including through the International Finance Corporation, to help turn these opportunities into viable projects that attract private investors. Any future involvement would be subject to assessment and approvals.
Together, these initiatives demonstrate how public financing can help build markets, attract larger private investments and support a more energy-secure, competitive economy—offering lessons for other developing countries.
