ADB lends Thailand $1b

Fri, 27 Mar 1998, 00:00 WIB | 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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