MALAYSIA | Overview
Official name: Malaysia
Capital: Kuala Lumpur
Official languages: Malay
Monetary unit: Ringgit (RM)
Population (million - 2013): 29.7
Total area (sq km): 329,847
Located just north of Equator in Southeast Asia, Malaysia is an open upper-middle income economy that had enjoyed robust economic growth for the past 20 years. Its GDP per capita had doubled since early 2000, and the poverty level is sub 2% for the past years. Being mainly a producer of raw materials, such as tin and rubber in the 1970s, Malaysia has diversified from commodities and the Government since then has broaden the revenue base.
Today, the country has become a leading exporter of electrical appliances, electronic parts and components, palm oil, and natural gas. Malaysia also has been the leader in Islamic Finance where the majority of global Islamic Finance activities take place in the country. With the past economic growth, there has been some income distribution challenges observed by the authorities. The Government since 2008 has developed a New Economic Model to push forward Malaysia agenda to be a high-income economy by 2020 and address some of the existing challenges.
Year joined ICD:
Number of projects approved: 8
Gross Approval ($US million): 44.66
Gross Disbursement ($US million): 5.53