U.S. pledges $1.7b to Thailand

U.S. pledges $1.7b to Thailand

BANGKOK (Reuters): Thailand has gained US$1.7 billion of U.S. government and private pledges to help it through a credit crunch and strengthen exports, Prime Minister Chuan Leekpai said on Saturday.

Chuan and his finance minister, Tarrin Nimmanahaeminda, told reporters in a teleconference from Washington that the U.S. Export-Import Bank would lend up to $1 billion in short-term trade finance that would greatly assist Thai exporters.

"This is a very important agreement which would add about 40 billion baht ($1.0 billion) of extra liquidity to the export sector," Tarrin said.

Private institutions had also pledged financing for education and training for Thai students and workers, said Chuan, who was on an official visit to the United States.