KUALA LUMPUR, 9 APRIL, 2012 : The supervision has entirely repaid the loans taken from the World Bank, whilst a leading part of loans from the Asian Development Bank (ADB) has moreover been settled.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah mentioned the supervision had borrowed US$2.646 billion from the World Bank from 1965 to 1999 and the loans were entirely staid by 2011.
"Loans amounting to US$1.285 billion from the ADB were performed between 1968 and 2002, with the excellent change as in December 2011, at US$124 million," he mentioned in respond to a subject from Alexander Nanta Linggi (BN-Kapit) in the Dewan Rakyat today.
Ahmad Husni mentioned the loans from the World Bank and ADB between 1965 and 2002 totalled US$3.931 billion and were usually acquired after deliberation the government's ability to pay back.
"The supervision continues to be committed to repaying the (ADB) loans according to the set schedule," he said, adding that the supervision did not steal from the International Monetary Fund (IMF).
Ahmad Husni mentioned the loans were performed usually for financing assorted projects to remove misery and to elevate the people's typical of living.
"The full agreement of the World Bank loans shows that the supervision is advantageous in handling its debts."
He mentioned leading portions of the World Bank and ADB loans were used to financial farming growth projects inclusive cultivation development, forestry, building home schemes such as Felcra's, H2O supply, drainage and irrigation, informative and illness facilities, micro credit schemes and loans for food production.
They were moreover used to financial city travel development, telecommunications, thoroughfare and main road projects, he said.
"These projects have contributed ample to poverty-eradication, raising incomes, building farming infrastructure, preparation and open health," he added.
- Bernama