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Japan gives $850m to develop Iraq's oil sector   Join our daily free Newsletter

MENAFN - 10/04/2007
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(MENAFN) An official at the Iraqi government said that the Japanese government has lent Iraq $850 million repayable over forty years at an interest rate of 0.75 percent yearly, AFP reported.

He said that the loan, which is a part of $6 billion in debt and $1.5 billion Japanese aids, aims to construct an oil facility connecting pipelines in the southern province of Basra, fund fertilizers, oil refinery plants and help improve electricity.

It is worth noting that Japan has made efforts for Iraq's reconstruction through deployment of the Self-Defense Forces and development aid and expanded its two-year air mission flying goods into Iraq in cooperation with the UN.

 




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