PROJECTS FROM RM7 BILLION ECONOMIC STIMULUS PACKAGE IDENTIFIED

KUALA LUMPUR, Nov 29 (Bernama) -- Various new infrastructure projects from the RM7 billion (US$2 million) economic stimulus package have been identified and will be implemented, Abdullah Ahmad Badawi said Friday.

The Prime Minister said that tenders for the projects to be carried out by
the various ministries will be out soon.

On this matter, he urged the local banking sector to cooperate with the
government to ensure that the projects will be implemented smoothly as
planned.

"Of course, those successful in getting the projects will need money to run
them," Abdullah said.

"I hope the banking sector will cooperate by giving loans to them. They
should not worry as the projects are from the government," he said at the 29th
Malaysian Investment Banking Association annual dinner here.

Abdullah said close cooperation between the public and private sectors is
also crucial in order to ensure the country's economy will move ahead despite
the challenges during the global recession period.

"I believe that with the close cooperation, we will be able to weather the
storm and come out much stronger and more confident," he said.

"At the moment we are not yet in recession," he added.
-- BERNAMA