ID :
58963
Tue, 05/05/2009 - 11:24
Auther :
Shortlink :
https://oananews.org//node/58963
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MALAYSIA TO PROVIDE ADB FINANCIAL SUPPORT
From Mohd Nasir Yusoff
NUSA DUA (Bali), May 4 (Bernama) -- Malaysia, which is affected by the current economic crisis and has adopted counter-cyclical measures, will continue to maintain strong relationship with the Asian Development Bank (ADB) by providing financial support.
Second Finance Minister, Ahmad Husni Hanadzlah, said the
support was in terms of Asian Development Fund X replenishments and the coming
installments of paid-up capital in the next five years.
"Malaysia will continue to participate proactively in all regional
cooperation and integration activities in Asia-Pacific," he said at the ongoing
42nd annual meeting of the ADB board of governors here Monday.
The meeting, which started on May 2, was officiated at by Indonesian
President Susilo Bambang Yudhoyono here Monday.
Husni, who is also governor ad interim, said Malaysia appreciated ADB's
efforts and contributions in sub-regional cooperation, helping improve
connectivity through transport links, facilitating trade and investment and
developing economic corridors.
He said in view of the current economic situation there was clearly an
urgent need to protect the poor and low-income households by expanding public
sector expenditures to support employment creation and income-generating
activities.
"In this context, we fully support ADB's engagement in short-term
counter-cyclical measures, by front-loading financial assistance in 2009, while
continuing to promote inclusive and sustainable economic growth and social
development in the medium and long term," he said.
Malaysia, he said, believed the additional US$4 billion (US$1=RM3.52), on
top of the US$9 billion allocated for this year, would help to provide the
necessary quick-disbursing programme loans to support reforms and up to US$1
billion of trade financing facility.
He said Malaysia also supported the scaling up of private-sector operations
and participation, and the promotion of private sector-led growth in all ADB
operations and activities, thereby helping to increase the number of
highly-opened and export-oriented economies in the region.
-- BERNAMA
NUSA DUA (Bali), May 4 (Bernama) -- Malaysia, which is affected by the current economic crisis and has adopted counter-cyclical measures, will continue to maintain strong relationship with the Asian Development Bank (ADB) by providing financial support.
Second Finance Minister, Ahmad Husni Hanadzlah, said the
support was in terms of Asian Development Fund X replenishments and the coming
installments of paid-up capital in the next five years.
"Malaysia will continue to participate proactively in all regional
cooperation and integration activities in Asia-Pacific," he said at the ongoing
42nd annual meeting of the ADB board of governors here Monday.
The meeting, which started on May 2, was officiated at by Indonesian
President Susilo Bambang Yudhoyono here Monday.
Husni, who is also governor ad interim, said Malaysia appreciated ADB's
efforts and contributions in sub-regional cooperation, helping improve
connectivity through transport links, facilitating trade and investment and
developing economic corridors.
He said in view of the current economic situation there was clearly an
urgent need to protect the poor and low-income households by expanding public
sector expenditures to support employment creation and income-generating
activities.
"In this context, we fully support ADB's engagement in short-term
counter-cyclical measures, by front-loading financial assistance in 2009, while
continuing to promote inclusive and sustainable economic growth and social
development in the medium and long term," he said.
Malaysia, he said, believed the additional US$4 billion (US$1=RM3.52), on
top of the US$9 billion allocated for this year, would help to provide the
necessary quick-disbursing programme loans to support reforms and up to US$1
billion of trade financing facility.
He said Malaysia also supported the scaling up of private-sector operations
and participation, and the promotion of private sector-led growth in all ADB
operations and activities, thereby helping to increase the number of
highly-opened and export-oriented economies in the region.
-- BERNAMA
