Malaysia Agrees In Principle To Support Maldives' US$100 Mln Facility Request – PM Anwar
From Mohd Fharkhan Abdul Ghapar
MALÉ (MALDIVES), Sept 15 (Bernama) -- Malaysia has agreed in principle to support the Maldives’ application for a US$100 million (US$1=RM4.07) financing facility, which Prime Minister Datuk Seri Anwar Ibrahim described as a form of soft loan to be implemented through both countries’ monetary authorities.
Anwar said that the terms and mechanism for the facility are still being worked out by Bank Negara Malaysia (BNM) and the Maldives Monetary Authority (MMA).
He said that in principle, Malaysia has no issue with the application, taking into account the Maldives’ repayment record and the cooperation between the two countries, as well as the government guarantee that would need to be provided.
“It is essentially a soft loan, but it will be carried out through Bank Negara and the financial authorities.
“As for the terms, these are still being examined by both central banks, although in principle we have no issue with their repayment record, as well as the cooperation and government guarantee that must be in place,” he told the Malaysian media after concluding his official visit to the country.
Also present were Investment, Trade and Industry Minister Datuk Johari Abdul Ghani, Human Resources Minister Datuk Seri R. Ramanan, and Malaysian High Commissioner to Sri Lanka and the Maldives Badli Hisham Adam.
Earlier, at a joint press conference with Maldives President Dr Mohamed Muizzu, Anwar said the Maldivian leader had raised the matter with him and had also written regarding the need for BNM to respond to the MMA’s request for the US$100 million facility.
“The President has written to me about the need to get our central bank, Bank Negara Malaysia, to respond to the Maldivian request, precisely (from) the Maldives Monetary Authority, for this US$100 million facility.
“We have agreed in principle to support this, although both the central bank and MMA will have to work in the fastest time possible on the mechanism and the process to ensure that the agreement can be settled in the fastest time possible. And this can only be done based on trust and friendship,” he said.
The Prime Minister is on a two-day official visit to the Maldives and held a four-eye meeting and bilateral talks with Muizzu today.
-- BERNAMA