Prime Minister Anwar Ibrahim said Putrajaya would have borne RM8 billion in losses over the two scrapped pipeline projects if not for the loan repurposing agreement with the China-owned bank. (Bernama pic)PETALING JAYA: The government's loan repurposing agreement with a China-owned bank will reduce the RM8 billion in losses from the cancelled Trans-Sabah Gas Pipeline (TSGP) and multi-product pipeline projects to RM3 billion, Prime Minister Anwar Ibrahim said today.
Without the agreement, Anwar said Putrajaya would have borne RM8 billion in losses due to the obligation to repay the loans from the Export-Import Bank of China (Cexim) for the two scrapped projects.
"The country's losses have been reduced to RM3 billion because we regained RM5 billion through the loan repurposing agreement, which will finance the Northern Perak Water Supply Scheme (NPWSS).
