KL to get $890m from Japan

KL to get $890m from Japan

TOKYO (Reuters): Japan said on Wednesday it had agreed to extend 107.69 billion yen ($890 million) in long-term loans at low interest rates to Malaysia as part of its financial aid program to help revitalize the country's economy.

The loans would be used to finance improvements in education, protecting the environment and helping small businesses, the Foreign Ministry said in a statement.

The two countries exchanged documents earlier on Wednesday in Kuala Lumpur to implement the loan package, it said.

"The loans are part of the Miyazawa Plan," a Foreign Ministry official told Reuters, adding that the timing of further aid disbursements had not yet been decided.