U.S. Ambassador to Thailand Michael George DeSombre and Minister of Finance Arkom Termpittayapaisith met today to discuss and exchange signed copies of the Framework to Strengthen Infrastructure Finance and Market Building Cooperation, signed by U.S. Treasury Assistant Secretary Mitchell Silk and Permanent Secretary of Finance Prasong Poontaneat of the Government of Thailand on September 22, 2020.
This cooperative initiative is designed to achieve the mutual goals of the United States and Thailand to support infrastructure development through market-oriented, private sector investment.
Under this cooperative framework, the United States and Thailand will address regulatory, market, and legal barriers to private sector investment by focusing on the development of financial instruments, project finance, the local debt market, and capital markets.
“This framework supports economic growth and our shared goals to meet infrastructure needs through market-oriented, private sector investment in Thailand and across Southeast Asia. We are committed to working with our regional partners, especially in Southeast Asia, to realize the President’s vision for the Indo-Pacific region,” said Assistant Secretary Silk.
The United States and Thailand are highlighting the framework at the Indo-Pacific Business Forum in Hanoi, Vietnam on October 28. The engagement supports the broader U.S. Government Indo-Pacific Strategy by complementing ongoing efforts under the Enhancing Development and Growth through Energy (Asia EDGE) and the Infrastructure Transaction and Assistance Network (ITAN).