Malaysia Will Not Take Loans To Fund BR1M – Minister

By Saturday January 7th, 2012 No Comments

TASEK GELUGOR, Jan 7 (Bernama) — Malaysia will not take loans from other countries or the World Bank to finance its 1Malaysia People’s Aid (BR1M) programme.

Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop said Saturday, the country could afford to finance the programme through existing funds generated by its strong economy.

He was asked to comment on an allegation by the opposition that the allocation for BR1M was obtained from the World Bank.

Yesterday, Prime Minister Datuk Seri Najib Tun Razak had said the source for the financing of BR1M programmes was from the strength of the country’s economy and not through the World Bank.

Najib, in his statement, urged the people not to be influenced by the opposition’s false propaganda as it was obvious they were lies, adding that the last time Malaysia took a loan from the World Bank was in 1998 for US$400 million (RM1.28 billion).

Earlier, Nor Mohamed visited three families to hand over daily necessities in Alor Merah here.

On the impact on the economy by the proposed ‘Free Anwar’ assembly on Monday, Nor Yakcop was confident the authorities were capable of carrying out their tasks to ensure its (economy’s) smooth-running.

“I am also sure investors will continue to invest in Malaysia as they have never suffered losses investing here all this while,” he said.

Source : Bernama

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