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The Japanese Ambassador to Iraq, Futoshi 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. The project will also contribute to modernizing Iraq’s energy industry and paving a way to attract the private sector to Iraq’s energy sector, in addition to reducing air pollution by reducing sulfur content in oil products, according to the statement.

Iraq receives 5th batch of $1.4 billion loan from Japan to upgrade Basra Refinery

The Japanese Ambassador to Iraq, Futoshi 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. The project will also contribute to modernizing Iraq’s energy industry and paving a way to attract the private sector to Iraq’s energy sector, in addition to reducing air pollution by reducing sulfur content in oil products, according to the statement.

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