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.