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
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
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
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.
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
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
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
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
The Department of Defense will maintain the overall scope and
quality of joint exercises.