PKR reveals new ‘proof’ in World Bank row
PKR says that a World Bank loan was sought through the National Economic Action Council, of which Mahathir was the chairman.
(Free Malaysia Today) – PKR today continued with its attack on Dr Mahathir Mohamad by showing alleged new evidence to prove its claim that the former premier had asked for loan from the World Bank during the 1999 financial crisis.
PKR strategic director Rafizi Ramli said in a statement today that a World Bank report coded “PID6999″ showed Mahathir asking for loans to support his administration’s National Economic Recovery Plan (NERP).
The loans were sought through the National Economic Action Council (NEAC) under the tenure of Mahathir’s strongman Daim Zainuddin. Mahathir was the chairman of NEAC.
Daim was the NEAC’s secretary and was also the director of the Economic Planning Unit that answered to the former prime minister himself.
The World Bank report read:
“In view of these circumstances in July 1998, the government announced a National Economic Recovery Plan to bring the economy back on a positive growth path.
“One of the six strategic objectives of the National Economic Recovery Plan is to continue the country’s equity and socio-economic agenda which had been instrumental during the past two decades, in maintaining social stability in the country.
“In line with this objective, the government has proposed a plan of action to mitigate the adverse social impacts of the crisis which threaten to reverse the gains made in the past. The government has approached the (World) Bank for help in strengthening this plan and implementing it through a Social Protection Project”
‘Asked for and not offered’
The NERP was introduced as a blueprint to steer Malaysia out of the Asian financial crunch in July 1998.
The report stated that Malaysia had first sought the loan on July 26, 1998. It further stated that the World Bank assessment team had departed for Malaysia on Nov 30. The negotiation began Feb 1, 1999.
Rafizi said the report clearly stated that the aid was “asked for and not offered”.
In his blog posting yesterday, Mahathir maintained that he had never written any letter requesting for loan from the World Bank.
