Announcement of Consultative Group on Development Assistance to Thailand on May 18, 1966

• ~ 1818 H STREET, N.W., WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE 3-6360 Bank Press Release. No. 66/21 Subject: Consultative Group on Develop- May 18, 1966 ment Assistance to Thailand the Consultative Group on Development Assistance to Thailand Qrganized by the World Bank met in London on May 16 and 17. The following cocntries were represented: Australia, Belgium, Canada, Denmark, France, Germany, Italy, Japan, Netherlands, New Zealand, Switzerland, United Kingdom and the United States. Representatives of the Government of Thailand and of the International Monetary Fund, as well as observers from the United Nations Development Programme and • the Development Assistance Committee of the OECD, were also p~esent • The Group discussed a report prepared by the World Bank on the economic situation in Thailand in relation to the Second Development Programme for 1967- 1971, together with a report by Thailand and a list of projects for which ex- ternal assistance will be required. In the discussi.on, it was noted that Thailand's recent economic performance had been impressive, and that the prospects warrant further assistance frotn the members of the Group. The Government of Thailand listed more than 100 capital and technical assistance projects and studies tentatively planned during the five-year period 1967-1971. The members of the Consultative Group indicated interest in many of the projects and studies. The Thai Government will undertake further discussion on these matters on a bilateral basis in Bangkok and capitals of the member countries • • The World Bank report endorsed as reasonable and attainable the Thai Govern1nent's target of maintaining an economic growth rate of approximately  - 2 - seven per cent of GNP annually through the Plan period. cepted as valid the Government of ~rhailand 's tentative plan to seek a gross T.he report also ac- • inflow of approximately $500 million for public sector projects during the five years. Although Consultative Group meetings are not intended to elicit specific pledges of aid, the Chairman concluded that the con.fidence, good will and indications of interest expressed by member countries offered reasonable ex- pectations that the capital and technical assistance requirements proposed ~ould be met. It is expected thd.t the next meeting of the Group will be held April 1967 • • • ·-· ·::i··,.:--.,,,,.,,.