World Bank to Lend US$100M For Y2K Remedy

Malaysia is seeking World Bank funding to remedy its year 2000 (Y2K) problem, but experts fear it may already be too late.

World Bank spokesman Graham Barrett confirmed the government was now applying for a loan specifically to address the Y2K problem which will only likely be approved in early 1999.

The allocation is believed to be in excess of US$100 million.

The application followed the government’s admission recently that it may have underestimated the complexity of the date rollover problem.
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