Embassy of Japan shows a $ 1 billion loan to Iraq

Embassy of Japan shows a $ 1 billion loan to Iraq

2019/6/16 13:40

Embassy of Japan shows a 1 billion loan to IraqThe Embassy of Japan to Iraq, the Japanese Agency for International Cooperation (JICA) loan to Iraq worth about one billion US dollars.
“The Ambassador of Japan to the Republic of Iraq (Naofumi Hashimoto) and the Advisor to the Prime Minister for Finance and Finance Minister of the Republic of Iraq, Fuad Mohammed, today signed and exchanged notes in Baghdad on the provision of the Japanese yen for a refinery development project ($ 1 billion), which is one of the largest amounts allocated by the Government of Japan to a single loan project in the Middle East and North Africa. ”
“This project will increase the production of oil through the establishment of a new refinery (complex catalytic cracking of fluids), in the refinery of Basra present.”
“The project aims at increasing the quality of oil products and bridging the gap between supply and demand. In addition, the new plant will reduce the environmental burden by introducing the diluted sulfur desulfurization unit with the transfer of technology.”
He pointed out that “after the implementation of this project, it will become the Basra refinery the only refinery that produces petroleum products with high added value such as gasoline and diesel appropriate international standards for the environment and , ultimately, it is expected to contribute to the economic and social recovery of Iraq” .anthy
The Ministry of Finance, announced today Signing a loan with the Japan International Cooperation Agency (JICA) for Iraq worth about one billion US dollars and 40 years, including 10 years grace. The loan will be repaid in semi-annual installments over a period of 30 years. The interest rate will be 0.2% Improve the quality of oil derivatives , in addition to increasing production capacity to meet the needs of Iraq from this Almstqat.anthy

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