THE WHITE HOUSE

Office of the Press Secretary

FACT SHEET

U.S.-Thailand Relations

U.S. Support for Thailand at Time of Financial Crisis

• The United States has worked closely with the International Monetary Fund (IMF) and the international financial community to address the economic crisis currently confronting Thailand and the United States has played an important role in each stage of the Thai financial crisis, including:
• The U.S. supported the $4 billion IMF Stand-by program and the $1.5 billion and $1.2 billion loans from the World Bank and Asian Development Bank respectively.
• The United States supported the recent favorable review of Thailand's IMF program.
• As a sign of U.S. confidence in the Thai government's commitment to reform, the U.S. has announced that it would be prepared to support additional IMF financing in the form of the Supplemental Reserve facility, if needed.
• To increase bilateral trade flows, the U.S. Export-Import Bank (Ex-Im) has announced its intention to increase short-term trade financing by up to $1 billion.
• The United States also is seeking to assure that other official export credit agencies including those of the G-7, remain open to Thailand.
• The U.S. Overseas Private Investment Corporation also will provide $400 million in support of two Thai electric power projects and will make available $45 million in OPIC guarantee investment funds for equity investment in Thai companies.
• The U.S. Trade Development Agency (TDA) will finance feasibility studies on the privatization of locomotive and rolling stock maintenance facilities for State Railways of Thailand and provide technical assistance to upgrade communications networks for the Provincial Electric Authority of Thailand. The TDA also will afford technical assistance to Thailand's National Electronics and Computer Technology Center to assist in developing a nation-wide, high capacity information network for government services.

People-to-People Assistance

• The United States will provide scholarships for 165 Thai students to come to United States for university studies.
• The U.S.-ASEAN Business Council will provide financial assistance to enable Thai students already attending American universities to complete their studies.
• In cooperation with the Kenan Institute of the University of North Carolina and the Kenan Institute Asia in Bangkok, American corporations in Thailand will contribute to the establishment of work skills training programs for Thai workers. The project will serve as a model for joint public/private assistance in emerging markets.
• The Association of International Educators will work with American universities to develop programs to help students defray expenses so they can continue their studies.
• The U.S. Information Agency (USIA) will enhance its Fulbright program in Thailand.
• USIA will establish a clearinghouse for information on the financial assistance available to students from Thailand and other countries affected by the economic crisis.
• The U.S. Immigration and Naturalization (INS) will relax its rules to temporarily permit students from Thailand (and other countries affected by the economic crisis) to finance their studies through employment in the United States.
• The Unites States will provide immunization shots for children and assist in the operations of rural health programs in Thailand.
• The United States will consider favorably a Thai request for the United States to join the humanitarian de-mining program along the Thai-Cambodian border.

Counternarcotics -- Law Enforcement Cooperation

• In cooperation with the Thai government, we are prepared to help establish an International Law Enforcement Academy in Bangkok to enhance regional cooperation on legal assistance matters, extradition and the administration of justice.
• The Academy will be open to law enforcement officials from throughout the Southeast Asia region and will offer programs to train officials to combat transnational crime, including narcotics trafficking, money laundering and other financial crimes, counterfeiting, firearms trafficking, vehicle theft, and alien smuggling.

Military and Security Relations

• The United States will relieve the Thai government of its remaining financial liability for the 1996 contract to purchase eight F/A-18 aircraft.
• The Department of Defense will maintain the overall scope and quality of joint exercises.

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