Neighbouring Countries Economic Development Cooperation Agency (Public Organization) or NEDA was established on 17 May 2005 under the Royal Decree on Establishment of Neighbouring Countries Economic Development Cooperation Agency (Public Organization), B.E. 2548, announced in the Royal Thai Government Gazette, Volume 122, Part 39A, dated 16 May 2005. The Royal Thai Government Gazette consists of seven sections, 54 articles, and one transitory provision as follows:
Section 1: Establishment, objectives, authority and function
Section 2: Capital, income, and property
Section 3: Management and business operation
Section 4: Operating coordination
Section 5: Office personnel
Section 6: Accounting, audit, and office evaluation.
Section 7: Governance
The transitory provision deals with different operations at the outset of NEDA, such as budgeting, and transfer of property and personnel from NECF, etc.
Objectives, authority and function of NEDA (as stipulated in Section 7 of the Royal Decree) are as follows:
1. Provide neighbouring countries and other countries with financial and technical assistance.
2. Cooperate with neighbouring countries in economic development.
3. Conduct studies and provide recommendations on cooperation policies and measures.
4. Coordinate with concerned organizations to integrate cooperation.
In addition, Section 8 has authorized NEDA to do the following activities:
1. Have ownership and rights to possess and acquire property.
2. Initiate rights or perform juristic acts.
3. Offer grants and soft loans to facilitate operations based on the office objectives (according to the criteria, methods and terms stipulated by the Board).
4. Borrow money (according to the criteria set by the Cabinet) or raise funds (according to the criteria, methods and terms stipulated by the Board).
5. Take part in joint ventures with individuals or other juristic persons in activities related to the office objectives (according to the criteria stipulated by the Cabinet).
6. Act as a representative or broker, or assign or hire individuals or juristic persons to operate businesses according to the office objectives.
7. Enter into agreements and cooperate with government agencies, organizations or agencies both inside and outside the country, and the private sector in businesses related to the office objectives.
8. Collect charges, fees, service charges or other payment for business operation.
9. Establish and give funds to support office operations, and take other necessary actions in order to achieve the office goals.