The Asian Development Bank (ADB) on Wednesday praised Thailand for taking swift and efficient measures to ease adverse effect of the Dec. 26 tsunami on the Thaieconomy.

At a seminar with the theme "Overhaul of Thai Economy", ADB's chief Tadao Shino noted the Thai government had gained greater recognition in its competence in handling the crisis.

The existing economic policy and reform will enable Thailand to become the region's economic leader and communication and commercial center.

ADB was ready to support Thailand's efforts to realize its aim,said Shino.

He added that ADB planned to set aside one million US dollars for the study of the establishment of a tsunami early warning system which would help the region forecast future disasters and limit the damages to a minimum extent.

The bank also prepared to inject some 500 million US dollars for rehabilitation in the disaster-affected Asian region.

Earlier, around 175 million US dollars have been earmarked by the bank for ongoing relief projects.