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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"

April 28, 1999

 

  1. The Ministry of Finance has indicated 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 a two-step loan to the Development Infrastructure Bank of Malaysia (DIBM) by the Export-Import Bank of Japan (JEXIM) to strengthen the infrastructure of physical distribution, amounting to 48 billion yen.

  2. The financial support will be a medium- to long-term 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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