Iraq News - Local News - Baghdadpost

Japan approves loan to help Iraq repair damage to electricity sector

Signing Japanese loan
Iraqi government has signed an agreement with Japan upon which Tokyo would provide a loan to Baghdad in order to help cover the budget deficit and face the harsh financial crisis sweeping the country as a result of corruption that prevails nationwide.

In a statement, Haider al-Abadi's office said the Japanese official delegation was led by Japanese State Minister for Foreign Affairs Kentaro Sonoura. The loan aims at rebuilding damaged electricity infrastructure, especially in areas recaptured from Daesh terrorist group.

The Japanese side signed off on the loan in the presence of Iraqi Prime Minister Haider al-Abadi.