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Japanese Financial Support to Malaysia Under the Framework of the ''New Miyazawa Initiative''

MINISTRY OF FINANCE
THE GOVERNMENT OF JAPAN

Japanese Financial Support to Malaysia
Under the Framework of the "New Miyazawa Initiative"

March 31, 1999

  1. The Ministry of Finance has informed the Government of Malaysia that Japan will extend its financial support to Malaysia under the framework of "A New Initiative to Overcome the Asian Currency Crisis - New Miyazawa Initiative -" to assist Malaysia's efforts to overcome Its current economic difficulties.
    The support to Malaysia will be extended in the form of guarantees for the Government of Malaysia by the Export-Import Bank of Japan (JEXIM) to strengthen the infrastructure of physical distribution, amounting approximately to the Yen equivalent of US$ 700 million.

  2. The financial support will be a medium- to long-term financial support extended under the framework of this initiative, in response to the request from the Government of Malaysia. The Government of Japan will continue to look into Malaysia's financial needs and consider appropriate support if necessary.

  3. The Government of Japan hopes that this support will help Malaysia overcome its current economic difficulties and that its economy will return to a stable growth path as quickly as possible.

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