KUALA LUMPUR: The Government has denied that the US$150mil (RM540mil) loan given to 1Malaysia Development Bhd (1MDB) from Export Import (Exim) Bank was to purchase land in Pulau Indah.
Deputy Finance Minister Datuk Ahmad Maslan (pic) confirmed there was a letter of support from the Government to Exim Bank for 1MDB to get the loan, as mentioned by Deputy Finance Minister Datuk Chua Tee Yong previously.
“However, the information I have at this moment is that the loan is to pay for the maintenance and upgrading of 1MDB’s power plants overseas.
“That is the information given to me,” he said in reply to Tony Pua (DAP – Petaling Jaya Utara) in winding up debate for the Development Financial Institutions (Amendment) Bill 2015 on Wednesday.
Ahmad said 1MDB’s loan from Exim Bank was in line with the bank’s mandate, which was to provide credit facilities to fund and support export and import of goods, services and funding of overseas projects and focus on non-traditional markets.
“Some 30.8% of 1MDB’s energy initiatives are for overseas markets. So it is in line with the mandate and we approved the loan to maintain and upgrade the power plants,” he said.
On Tuesday, Chua had confirmed that the Government issued a letter of support for 1MDB to get a loan from Exim Bank
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