Iraq signs loan with JICA

by **claud39** on Sun Jun 16, 2019 6:17 am

Sunday, June 16,

On the basis of the General Budget Law and the Council of Ministers Decree No. 22 of 2019 authorizing the Minister of Finance to sign loan agreements, on Sunday morning, June 16, 2019, the signing of mutual memoranda between the Government of the Republic of Iraq represented by the Ministry of Finance and the Government of Japan represented by the Japanese Embassy in Baghdad, Loan agreement between the Ministry of Finance and Japan International Cooperation Agency JICA

The mutual memoranda were signed by the Ministry of Finance, Deputy Prime Minister and Minister of Finance Mr. Fuad Hussein, and by the Japanese side, Mr. Naoufoy Hashimoto, Japanese Ambassador to Iraq

The loan is worth one hundred and ten billion Japanese yen, equivalent to about one billion US dollars and 40 years, including 10 years grace. The loan is repayable in semi-annual installments over a period of 30 years. The interest rate is 0.2% fixed and the purpose of signing the loan to develop Basra refinery, Improving the quality of oil derivatives in addition to increasing production capacity to meet Iraq's needs of these derivatives

The minister expressed thanks for the support of the Government of Japan to the Iraqi economy through the provision of soft loans and considered that this loan on concessional terms and low interest rate policy to support the Iraqi economy.

For his part, the Japanese ambassador expressed his country's readiness to support the Iraqi economy in all fields, stressing that his government is determined to continue to support the Iraqi government and people in order to build a strong and stable state.

The signing ceremony was attended by Undersecretary of the Minister of Oil and a number of general managers in the ministry

http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=684

by **claud39** on Sun Jun 16, 2019 6:19 am

Iraq signs a $ 1 billion loan with a Japanese agency

16/06/2019

Economy News - Baghdad

The Ministry of Finance announced on Sunday the signing of a loan with the Japanese International Cooperation Agency (JICA) for one billion US dollars and 40 years, including 10 years grace.

"According to the General Budget Law and the Cabinet Decision No. 22 of 2019 authorizing the Minister of Finance to sign the loan agreements, on Sunday morning, June 16, 2019, the signing of mutual memoranda between the Government of the Republic of Iraq Represented by the Ministry of Finance and the Government of Japan represented by the Japanese Embassy in Baghdad, followed by the signing of the loan agreement between the Ministry of Finance and Japan International Cooperation Agency JICA.

The Ministry of Finance and the Ministry of Finance and the Ministry of Finance signed the Deputy Prime Minister and Minister of Finance Fuad Hussein and the Japanese Ambassador to Iraq Naofoy Hashimoto, noting that "the loan amount is one hundred and ten billion yen, equivalent to about one billion US dollars and 40 years The loan is repayable in semi-annual installments over a period of 30 years. The interest rate is 0.2% fixed. The purpose of signing the loan is to develop Basrah Refinery, which will contribute to improving the quality of the oil derivatives, in addition to increasing production capacity to meet Iraq's needs. Derivatives ".

The Minister of Finance, Fouad Hussein, said, "thanks for the support of the Government of Japan to the Iraqi economy through the provision of soft loans," adding that "this loan on concessional terms and low interest rate policy to support the Iraqi economy."

For his part, the Japanese ambassador expressed "his country's readiness to support the Iraqi economy in all fields," stressing that "his government is determined to continue to support the Iraqi government and people in order to build a strong and stable state."

http://economy-news.net/content.php?id=16939

by **claud39** on Tue Jun 18, 2019 9:22 am

Iraq is borrowing $ 1 billion from Japan's International Cooperation Agency

18/06/2019

Iraq signs loan with JICA Rc_156083819094_23

The Iraqi government announced that it had signed a loan with the Japanese International Cooperation Agency (JICA) worth about one billion dollars.
The Ministry of Finance said in a statement on Monday that "the value of the loan is one hundred and ten billion Japanese yen, equivalent to nearly one billion dollars, and 40 years, including 10 years grace, and repay the loan in semi-annual installments over 30 Year, and the interest rate is 0.2 percent fixed ».
The statement added that the purpose of signing the loan «to develop the Basra refinery, which will contribute to improving the quality of oil derivatives, in addition to increasing production capacity to meet the needs of Iraq of these derivatives».
For its part, said the Japanese embassy in Baghdad, that «the loan will contribute to increase oil production through the establishment of a new refinery (the complex of cracking catalytic liquids), in the refinery of Basra present».
"The project aims at increasing the quality of oil products and bridging the gap between supply and demand. In addition, the new plant will reduce the environmental burden by introducing the diluted sulfur desulfurization unit with the transfer of technology."
"Following the implementation of this project, the refinery of Basrah, the only refinery that produces high value added oil products such as gasoline and diesel, will be in line with international environmental standards, and ultimately, it will contribute to the economic and social recovery of Iraq," the statement said.

http://www.uabonline.org/en/news/arabicnews/15751604159315851575160216101602157815851590160516/64832/1