Digital skills alone, however, may not be enough to address such complex issues as educational inequalities, which are closely linked to Thailand’s challenging financial landscape. The country’s household debt currently stands at 16.4 trillion baht, or 90.8% of GDP in the first quarter of 2024, one of the highest levels in Asia, according to the Bank of Thailand.

To help children, particularly those from underprivileged backgrounds, gain the financial knowledge and skills needed for a successful future, UOB launched UOB Money 101: Teen Edition in 2021, a programme aimed at teaching lower secondary students essential financial skills, from saving and spending to earning and investing.

“Instilling financial knowledge in young people is a long-term solution to reducing household debt and encouraging financial responsibility,” said Mr Maloney.

To date, more than 10,000 students from remote schools across Thailand have gained both digital and financial skills through the UOB My Digital Space and Money 101 initiatives. Mr Maloney emphasised that UOB’s MDS programme represents a crucial investment in Thailand’s future.

“We’re not just bridging the digital divide,” he said. “We’re cultivating the next generation of leaders and enhancing Thailand’s competitiveness in the global knowledge economy. We believe that by focusing on education, we can create a lasting impact that will benefit Thailand for years to come.”