Japanese Signs Loan Agreement with Iraq

Captain Hussain, the GCPI Team Leader for the Phase I says

“After a remarkable achievements in the Phase I, the actual enhancement of the services meeting the increasing volume of cargo handled in the UQP. Now, thanks to the good progress of the Phase I, larger ships are being handled, resulting in increasing proficiency in international commerce (see photos).

"We are happy to have the Phase II with a support by new Japanese ODA Loan for the KZP. GCPI is fully geared to apply expertise acquired from the implementation of the Phase I with JICA, in order to execute successfully new projects in the area of the KZP such as dredging, wreck removal, civil and utility works".

The Phase II Loan, extended in light of the success of the Phase I, is in accordance with the Special Terms for Economic Partnership (STEP)*(1) , where Japanese advanced technologies are to be utilized. It is expected that the advanced technologies will be applied to civil works for rapid and safe construction.

It also reflects the high expectation of Iraqi government to the Japanese firms, many of which had contributed for infrastructure projects during 70s-80s and been still remembered by many.

*(1) These special Japanese ODA loan terms were established to provide greater visibility of Japanese aid through the transfer of technology and expertise to developing countries.

(Source: JICA)