Friday, 19 July 2019 09:54 GMT
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Japan to lend Iraq USD195mn loan for elect sector




(MENAFN) Japan has confirmed to lend Iraq more than USD195mn for a project to support repair a thermal power station in the southern province of Basra.

Furthermore, the loan was inked amid a visit to Iraq by Japan's State Minister for Foreign Affairs, who met Prime Minister Haider Al-Abadi.

Additionally, Iraq needs external financing in order to plug a budget deficit for USD21.44bn for the recent year as it faces lower global oil prices.

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Japan to lend Iraq USD195mn loan for elect sector

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