The measures included cutting emergency interest rates on dollar loans to cash-strapped European banks.

This stimulated the growth of these 'offshore' markets for dollar loans.

Those banks could then use the Treasuries as collateral in exchange for dollar loans.

The world's biggest central banks last week cut the cost of dollar loans to ease funding pressure.

A 500 million dollar loan for the oil industry is being prepared.

"Our plan was to just pay off the ten thousand dollar loan we used to start the company, and then afford to employ ourselves."

France provided a 280 million dollar loan for the second phase of the project to French companies involved in the project.

The loan will also enable quicker access to the bank's long-term dollar loans.

In effect, overnight, the government would have to repay a two-hundred-sixty-billion dollar foreign loan.

"What Asia needs is foreign technology and business organization, which comes with direct foreign investment, not dollar loans," he said.