ADB lends Thailand $1b

Fri, 27 Mar 1998 | Source: AFP

MANILA (AFP): The Asian Development Bank yesterday approved a one-billion-dollar export financing facility for Thailand to support exporters squeezed by tight credit, the Philippines-based bank announced.

The facility includes a US$950 million syndicated loan from international banks, which "is on top of assistance provided under a $17.2 billion (International Monetary Fund-) led multilateral rescue package for Thailand," the bank said in a statement.

The ADB will provide a 50-million-dollar loan component, and will also partly guarantee the syndicated loan.

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