Japan to Finance Electricity, Sewerage Projects

By John Lee.

Finance Minister Hoshyar Zebari has signed a memorandum of understanding with the Japanese charge d'affaires in Iraq to finance two development projects using loans from Japan.

The first involves a loan of $450 million (525 billion Iraqi dinars) for reconstruction in the electricity sector, while the second is to finance the reconstruction of the sewerage system in the city of Erbil at a cost of $285 million.

(Source: Ministry of Finance)