Council of Ministers Authorises Finance Minister to use Japanese Loan

The Council of Ministers authorized Finance Minister Baqer al-Zubaidi to discuss investing the rest of the Japanese loan with the Japanese ambassador.

“The council during its 15th session decided to authorize the minister to discuss investing the remaining amount of the Japanese loan (around $220 million) with the ambassador to determine the projects that could benefit from this amount,” Ali al-Dabbagh, spokesman of the Iraqi government said in a statement received by Aswat al-Iraq news agency.

The Japanese government presented a 3.5 billion Iraqi dinars loan. The Iraqi government used the loan to rehabilitate a fertilizer factory in Khour al-Zubeir, in addition to other projects.

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