KUALA LUMPUR, July 22 -- The federal government is ready to extend RM350 million to the Sarawak state government to repair dilapidated schools in the state, said the Ministry Of Finance.

However, this can only be achieved when the Sarawak state government pays back its loan of the same amount to the federal government, said Finance Minister Lim Guan Eng.

In a media statement today, Lim said that Sarawak Chief Minister Datuk Abang Johari Openg had agreed to pay back RM350 million to the federal government, which is the first phase of loan payment amounting to RM1 billion.

"The Chief Minister of Sarawak expressed his willingness to refund RM350 million in the near future. After that, some things will be finalised such as the implementati...