Baghdad (IraqiNews.com) – The Japanese Ambassador to Iraq, Futoshi Matsumoto, announced on Sunday that the Japanese government is setting up seven new projects in Iraq.
Matsumoto told INA that the loans Japan granted to Iraq last for 40 years with a low interest rate of 0.2 percent.
“During the past 20 years, Japanese companies have carried out around 30 major projects in Iraq. Seven new projects will be carried out if the Iraqi government allocates some funds in its budget for the next year,” Matsumoto stated.
The Japanese Ambassador indicated that two projects are scheduled to be carried out in 2023, clarifying that the first is the Basra Refinery Upgrading Project and the second is a water desalination project in Muthanna governorate.
Matsumoto elaborated that the cost of the project in Muthanna is $300 million, noting that it is a very important project to develop the infrastructure in Iraq.
The Japanese Ambassador confirmed that Japan continues its support for Iraq through soft loans.
The Japanese embassy in Iraq mentioned last week that Matsumoto and the Iraqi Minister of Finance, Taif Sami, together with the Japan International Cooperation Agency (JICA), signed and exchanged notes concerning the provision of the fifth batch of the Official Development Assistance (ODA) loan worth $1.4 billion for the Basra Refinery Upgrading Project, the biggest Japanese project in Iraq.
Iraq: Ambitious Project to Build Unmanned Metro in Baghdad
Houthi missile attack forces cargo ships with US navy escort to turn around
Iraq: UAE’s Masdar plans to build solar power facility
Iraq to sign deals for ‘Development Road’ mega project in September
REGISTERED WITH ADNOC
CERTIFIED BY EDCC
Iraq unveils $17 bn transport project linking Europe and Mideast
Iraq completes 100% of electrical interconnection with Turkey
TotalEnergies, QatarEnergy confirm deal to move forward on Iraq mega-projects
GET IN TOUCH