EMPOWERING THAI SMALLHOLDER FARMERS: STRATEGIC PATHWAYS FOR SUSTAINABLE FINANCIAL INCLUSION
DOI:
https://doi.org/10.14456/aisr.2025.33Keywords:
Smallholder Farmers, Financial Inclusion, Strategic Planning, Sustainable Development, ThailandAbstract
This study develops robust, actionable strategies to enhance financial access for smallholder farmers in Thailand, crucial for fostering sustainable rural development and improved livelihoods. Utilizing a rigorous qualitative methodology, the research involved semi-structured interviews with 35 key informants and focus group discussions across 18 provinces. Integrating SWOT and TOWS analyses, this work builds upon previous Structural Equation Modeling results to identify comprehensive strategic pathways. The study revealed significant internal strengths, including improved farmer education and robust community networks, juxtaposed with weaknesses such as limited financial literacy and insufficient collateral. Opportunities were identified in supportive government policies, emerging digital financial technologies, and growing demand for sustainable agricultural products. Concurrently, threats include high perceived agricultural lending risks, climate change impacts, market volatility, and an aging farmer population. The proposed strategic framework features four interlinked components: promoting financial literacy and capacity building, developing flexible financial products, supporting cooperative group formation for collective borrowing, and expanding digital financial services. This holistic approach aims to significantly increase credit access, strengthen financial resilience, reduce vulnerability to economic and environmental shocks, and contribute to a sustainable and inclusive rural financial system aligned with the United Nations Sustainable Development Goals.
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