Japan approves $100m Loan to Iraq

$100 million

Japan has approved a loan of about $100 million to support humanitarian, counter-terrorism and infrastructure projects in Iraq, a Japanese embassy statement said on Tuesday.

In January, Japan approved loans worth $240 million to Iraq to rebuild damaged electricity infrastructure in areas recaptured from Islamic State.

Iraq’s government income, which comes almost exclusively from oil exports, fell sharply when crude prices tumbled three years ago and IS captured large areas of northern and western Iraq.

(Source: Iraq Business News)

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