Iraq signed a final contract with Japan on two loans worth $ 735 million

by **Ponee** Mon Jun 29, 2015 10:10 am

The Ministry of Finance, on Monday, with Japan a final contract for energy and sanitation valued at $ 735 million, while the Japanese side confirmed that it was considering necessary to contribute to the reconstruction of the liberated areas plans.

Iraq signed a final contract with Japan on two loans worth $ 735 million NB-138626-635711749909324198

Iraq signed a final contract with Japan on two loans worth $ 735 million NB-138626-635711749909324198

Said Finance Minister Hoshyar Zebari at a press conference in the ministry building on the sidelines of the signing of the contract with the head of the Japanese Agency"JICA" Shuhei Hara and attended by Alsumaria News, said that " Iraq signed, today, with Japan once and for all on the two loans facilitators of energy and sanitation valued at $ 735 million "noting that" the first loan worth $ 450 million was allocated to electricity reconstruction projects from building power sub-stations in the center and south, and by concessional interest rates and repayment period of 20 years, including 6-year grace ".

Zebari said, "The second loan of $ 285 million will be allocated for the reconstruction of sanitation projects in Erbil," explaining that "the benefit of this loan will also be a facilitator and the period of repayment of 40 years including 10 years grace."

Zebari pointed out that "the Japanese government stood with Iraq and provided valuable and development aid since 2003 and until now, one of our key partners in the reconstruction of Iraq," pointing out that "loans, which was signed them today is 22 and 23 of the Japanese loan."

For his part, President of the Japanese Agency "JICA", Shuhei Hara, "The loan provided to project power in Iraq would improve power transmission and stability, especially in the central and southern operations," noting that the aid not only on humanitarian needs are limited, but on education and the provision of housing and preservation of cultural heritage. "

He said Shuhei Hara, that "Japan is also studying necessary to contribute to the reconstruction of the liberated areas plans."

It is noteworthy that the Ministry of Finance signed on 25 May, a preliminary contract with Japan on the two loans facilitators of energy and sanitation.

And was signed by Transport Minister Baqir al-Zubaidi, Sunday (24 May 2015), for the second loan with Japan worth $ 325 million signatures, and among it would be dedicated to the development of the port of Khor Al-Zubair, he stressed that would be repaid over 40 years.

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