Around $1 billion loan from Japan to Basra refinery

INA – BAGHDAD

Iraq signed an agreement with Japan International Cooperation Agency (JICA) to give a loan of one billion dollar for 40 years.

The agreement has been signed on Sunday’s morning by Iraq represented by Ministry of Finance and Japan represented by the Japanese Embassy in Baghdad.

This amount of loan was for rebuilding Basra refinery that may lead to increase the quality of oil production as well as the productive needs of the country.