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Japan offers USD 353 million loans to Iraq and
Kurdistan
24.4.2008
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April
24, 2008
TOKYO, -- Japan has decided to provide Iraq
with about JPY 36.41 billion (USD 353.3 million) in
loans to help improve water and sewage facilities in
the war-torn country, the Japanese Foreign Ministry
said on Wednesday.
Out of the amount, JPY 34.27 billion (USD 332.5
million) will be used for the project to construct
and expand the existing and new water purification
plants,www.ekurd.net
and to develop water
supply and distribution system in semi-autonomous
Kurdistan region, the ministry said in a statement.
JPY 2.14 billion (USD 20.8 million) will be spent
for the upgrade of sewerage facilities in Baghdad.
The loans carry an interest rate of 0.65 percent for
the Kurdish project and 0.01 percent for the project
in Baghdad, and must be repaid over 40 years,
including a 10-year grace period.
"Water supply system in Iraq was once in a good
condition, but appropriate processing has not been
done in many parts in the country. "Iraq regards
improving water and sewage facilities as one of the
important agenda in its reconstruction program,
which will lead to improve public welfare.
"Providing Japanese loans for such projects is
expected to improve securing safe water and to
improve sanitary situations in urban areas," the
statement added.
Copyright, respective author or news agency, kuna
net.kw
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