Earlier this week, a local consortium announced that the United Nations, via its SAVE Humanitarian Development Program Fund (SAVE HDF) will invest up to RM 10 billion in the phase two of the Bio Big Valley Lojing Development, a mega project in the East Coast Economic Region touted to be the first to adopt the carbonless and total renewable energy concept.
Recent reports highlighted that the UN through the SAVE HDF will provide funding of RM2 billion over the next two to three years and is also likely to fund the remaining RM 8 billion by 2013.
According to Dr. Richard Leete, UNDP Resident Representative for Malaysia, Singapore and Brunei and UN Resident Coordinator for Malaysia, all development projects and requests for funding undergo a rigorous vetting process by the UNDP Malaysia country office and the Economic Planning Unit in the Prime Minister’s Department of Malaysia.
“This means that any UN development assistance, including those implemented by the Malaysian government and non-governmental partners, must go through UNDP. All UNDP projects are supported by us.
“It must be a mistake and we are concerned as there are no records of the mentioned fund or correspondence with respect to funding, whether in the form of a loan or a grant,” said Dr. Leete.
Dr. Leete also said that the work of UNDP in Malaysia was guided by its Country Programme, agreed with government and approved by UNDP’s Executive Board.
The current programme focuses on Promoting the Global Partnership for Development;
“Our role in these initiatives includes offering ideas for strategic development projects and developing skills as well as knowledge to help the country to achieve its growth objectives. We do not fund property development,”
According to media reports, the SAVE HDF has agreed to invest RM2 billion over the next two to three years in the second phase of the Bio Big Valley and is likely to fund the remaining RM8 billion.
The second phase of the Bio Big Valley project also comprises a medical health resort, indoor winter resort, golf course, racing circuit, water sports club, residential properties and a five-star hotel, expected to be completed by 2013.
