(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.
MENAFN0608201700450000ID1095698449
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.