Interim Assessment of ADB's Lending to Thailand During the Economic Crisis

Evaluation Document | 31 December 1999

This evaluation reviews ADB's response to the Asian financial crisis, focusing on the experience of Thailand, so as to draw tentative lessons from the ongoing operations for future practice.

This report is the first independent internal review of ADB's response to the 1997/98 Asian financial crisis. It focuses on the experience of Thailand, the first crisis-hit county, so as to draw tentative lessons from ongoing operations for future practice.

The study focuses on specific performance aspects of ADB's core crisis-lending operations to Thailand. Namely, the Rural Enterprise Credit Project, Financial Markets Reform Program, Social Sector Program Loan, and the Export Financing Facility.

The study makes several preliminary findings. Among them: the experience of the program loan demonstrated that policy-based lending in the social sector can provide effective safety nets when the executive agency takes strong ownership; and that the four loans highlighted a "critical" need for performance indicators, which should be monitored by both ADB and executive agencies.

Contents 

  • Basic Data
  • Executive Summary
  • Rural Enterprises Credit Project
  • Financial Markets Reform Program Loan
  • Social Sector Program Loan
  • Export Financing Facility
  • Conclusion
  • Appendixes