Japan agrees $240m Loan to Iraqi Electricity Sector

By John Lee.

Reuters reports that Japan has agreed to lend Iraq up to 27.2 billion yen ($240 million) to rebuild damaged electricity infrastructure, especially in areas recaptured from the Islamic State group (IS, ISIS, ISIL, Daesh).

It also intends to approve another loan worth 21.5 billion yen to repair a thermal power station in Basra province, and will make additional contributions of approximately $100 million through international organizations for humanitarian assistance.

The loan was signed during a visit to Iraq by Japanese State Minister for Foreign Affairs Kentaro Sonoura (pictured).

(Source: Reuters)

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