The Iraqi Parliament ratified two memoranda and two letters containing the Japanese loan to finance a number of electrical and water projects on Sunday.
The loan is reportedly valued at 87.84 billion Japanese Yen [$1.1 billion, 1.3 trillion Iraqi dinars].
A statement, issued by the parliamentary media center, said that the loan is “to rebuild Iraq, encourage its economic stability and enhance building Iraqi infrastructure, as well as developing financial relations between the two countries.”
The loan will be used to help fund water projects in central and western Iraq, Akaz Gas-powered electrical station, and Dirlouk hydro-electro station
(Source: Aswat al-Iraq)