KUALA LUMPUR, Nov 6  — Transparency International-Malaysia (TI-M) has recommended to the finance ministry to draw up standardised, clear and transparent guidelines, in relation to the disbursement of soft loans for government projects to avoid negative perception and suspicion.

It said in a statement that clear criteria should be given on the amount of soft loans granted to companies for government projects and the directors must be made personally liable for the repayment of the loans.

“TI-M also urges the government to publish a list of borrowers online on their status, amount borrowed, progress and loan repayment so that the public are aware, and also it will boost transparency and accountability,” it said.

It said that before approval of any loan, the authorities should proactively conduct a thorough integrity due diligence and risk analysis when selecting the competence of companies to handle the project, including in the financial, technical aspect, as well as experience before approval of any loan. — Bernama