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Iraq signs US $ 1 billion loan with Japan International Cooperation Agency


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Iraq signs US $ 1 billion loan with Japan International Cooperation Agency

Economy | 12:48 - 16/06/2019

 
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BAGHDAD - 
The Iraqi Ministry of Finance signed a loan with the Japanese International Cooperation Agency (JICA) on Sunday for a period of 40 years, including 10 years. 
The ministry said in a statement received by Mawazine News, a copy of it, "Based on the law of the general budget and the decision of the Council of Ministers No. 22 of 2019 authorizing the Minister of Finance to sign loan agreements, was the morning of Sunday, June 16, 2019 the signing of memoranda exchanged 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 added that "the memorandum of understanding signed by the Ministry of Finance Deputy Prime Minister and Minister of Finance Fuad Hussein and the Japanese side Naofoy Hashimoto, the Japanese ambassador in Iraq," indicating that "the loan amount of 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 "

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Editorial date:: 2019/6/16 11:46 • 344 times read
Iraq is borrowing $ 1 billion from the Japan International Cooperation Agency (JICA)
Baghdad: Iraq signed a loan with the Japanese International Cooperation Agency (JICA) worth about one billion dollars.
A statement to the Information Office of the Minister of Finance received the agency {Euphrates News} a copy of it, "based on the law of the general budget and under the decision of the Council of Ministers No. 22 of 2019 authorizing the Minister of Finance to sign the loan agreements where the morning of Sunday the signing of memoranda exchanged 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 the Japanese Agency for International Cooperation (JICA). 
"The mutual memoranda have been signed by the Finance Ministry, Deputy Prime Minister and Minister of Finance Fuad Hussein, and Japanese Ambassador Naoufoy Hashimoto," he added.
"The value of the loan is one hundred and ten billion Japanese yen, equivalent to about one billion US dollars and 40 years, including 10 years of grace. The loan is repayable in semi-annual installments over a period of 30 years and the interest rate is 0.2% fixed." 
He pointed out that "the purpose of signing the loan to develop Basra refinery, which will contribute to improving the quality of oil derivatives in addition to increasing the capacity to meet the needs of Iraq of these derivatives." 
The Minister of Finance, Fouad Hussein, "thanks 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 the Undersecretary of the Minister of Oil and a number of General Directors of the Ministry
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Editor's note: • 244 times
Embassy of Japan shows a $ 1 billion loan to Iraq
The Embassy of Japan to Iraq, the Japanese Agency for International Cooperation (JICA) loan to Iraq worth about one billion US dollars.
"The Ambassador of Japan to the Republic of Iraq (Naofumi Hashimoto) and the Advisor to the Prime Minister for Finance and Finance Minister of the Republic of Iraq, Fuad Mohammed, today signed and exchanged notes in Baghdad on the provision of the Japanese yen for a refinery development project ($ 1 billion), which is one of the largest amounts allocated by the Government of Japan to a single loan project in the Middle East and North Africa. " 
"This project will increase the production of oil through the establishment of a new refinery (complex catalytic cracking of fluids), 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 petroleum products such as gasoline and diesel, will become an appropriate international environmental standard, and ultimately, it will contribute to the economic and social recovery of Iraq."
The Ministry of Finance announced today the signing of a loan with Japan International Cooperation Agency (JICA) for Iraq worth about one billion US dollars and a period of 40 years, including 10 years grace and repay the loan semi-annually over 30 years and the interest rate is 0.2% fixed and the purpose of signing the loan To develop Basra refinery, which will contribute to improving the quality of oil derivatives in addition to increasing production capacity to meet Iraq's needs of these derivatives
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Iraq signs US $ 1 billion loan with Japan International Cooperation Agency

Economy | 12:48 - 16/06/2019

 
image
 
 

BAGHDAD - 
The Iraqi Ministry of Finance signed a loan with the Japanese International Cooperation Agency (JICA) on Sunday for a period of 40 years, including 10 years. 
The ministry said in a statement received by Mawazine News, a copy of it, "Based on the law of the general budget and the decision of the Council of Ministers No. 22 of 2019 authorizing the Minister of Finance to sign loan agreements, was the morning of Sunday, June 16, 2019 the signing of memoranda exchanged 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 added that "the memorandum of understanding signed by the Ministry of Finance Deputy Prime Minister and Minister of Finance Fuad Hussein and the Japanese side Naofoy Hashimoto, the Japanese ambassador in Iraq," indicating that "the loan amount of 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 "

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A Japanese loan to Iraq in a billion dollars

4d302ab0-2e79-4d99-9d4b-2c18690c3c13.jpg

 

Economy of theIraqLoanJapanFouad HusseinMinistry of FinanceJICAHashimoto

 2019/06/16 04:01:08

 

The Ministry of Finance announced on Sunday the signing of a loan agreement from Japan worth one billion dollars.

The ministry said in a statement to the News Agency that "based on the General Budget Law and the Cabinet Resolution No. 22 of 2019 authorized the Minister of Finance to sign the loan agreements, where on Sunday morning signed 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 the Japanese International Cooperation Agency JICA.

"The memorandum of understanding signed by the Ministry of Finance, Deputy Prime Minister and Minister of Finance Fuad Hussein, and the Japanese side, Naofoy Hashimoto, the Japanese ambassador in Iraq," said the statement. "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 repaid in semi-annual installments over 30 years and the interest rate is 0.2% fixed. "

He pointed out that "the purpose of signing the loan is the development of Basra refinery, which will contribute to improving the quality of oil derivatives in addition to increasing production capacity to meet Iraq's needs of these derivatives."

https://www.shafaaq.com/ar/اقتصـاد/قرض-ياباني-للعراق-بمليار-دولار/

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http://alforatnews.com/modules/news/article.php?storyid=201003.......

Embassy of Japan shows a $ 1 billion loan to Iraq

Editorial date:: 2019/6/16 13:40  552 times read
Embassy of Japan shows a $ 1 billion loan to Iraq
The Embassy of Japan to Iraq, the Japanese Agency for International Cooperation (JICA) loan to Iraq worth about one billion US dollars.
"The Ambassador of Japan to the Republic of Iraq (Naofumi Hashimoto) and the Advisor to the Prime Minister for Finance and Finance Minister of the Republic of Iraq, Fuad Mohammed, today signed and exchanged notes in Baghdad on the provision of the Japanese yen for a refinery development project ($ 1 billion), which is one of the largest amounts allocated by the Government of Japan to a single loan project in the Middle East and North Africa. " 
"This project will increase the production of oil through the establishment of a new refinery (complex catalytic cracking of fluids), 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 petroleum products such as gasoline and diesel, will become an appropriate international environmental standard and, ultimately, will contribute to the economic and social recovery of Iraq."
The Ministry of Finance announced today the signing of a loan with the Japan International Cooperation Agency (JICA) for Iraq worth about one billion US dollars and a period of 40 years, including 10 years grace and is repaying the loan in semi-annual installments over 30 years and the interest rate is 0.2% fixed and the purpose of signing the loan To develop Basra refinery, which will contribute to improving the quality of oil derivatives in addition to increasing production capacity to meet Iraq's needs of these derivatives
 
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5 hours ago, 10 YEARS LATER said:

Gotta be a gosh darn damn good reason why countries STILL throw billions at " Crooked Iraq " - they must know the inside skinny of the happenings " in the near future " for Iraq.

 

Agreed. 

Sure got his ars kicked by Iran....

That’s got to be the worst show of disrespect from Iran ever displayed.  

I think Iran closed future trade possibilities with Japan. 

Although.....everyone wants them dang rugs!

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A Japanese loan to Iraq worth one billion dollars to develop Basra refinery

 

By ahad7 View  Articles 16/06/2019 10:09 PM | Number of readings:

 
A Japanese loan to Iraq worth one billion dollars to develop Basra refinery


Al-Ahed News - Baghdad

The Ministry of Finance announced on Sunday that it had signed a loan with the Japan International Cooperation Agency (JICA) for a period of 40 years, including 10 years.

A statement by the Ministry of Finance received by the "Covenant News", that "based on the law of the general budget and under the decision of the Council of Ministers No. 22 of 2019 authorizing the Minister of Finance to sign loan agreements, was signed on Sunday morning mutual notes between the Government of the Republic of Iraq represented by the Ministry of Finance and the Government of Japan represented by the Embassy Japanese agreement in Baghdad, followed by the signing of the loan agreement between the Ministry of Finance and Japan International Cooperation Agency JICA. "

"The mutual memoranda were signed by the Finance Ministry, Deputy Prime Minister and Minister of Finance Fuad Hussein, and the Japanese side, Naoufoy Hashimoto, the Japanese ambassador in Iraq," the statement said.

He added that "the loan amount is one hundred and ten billion Japanese yen, equivalent to about one billion US dollars, and 40 years, including 10 years grace, and repay the loan semi-annual installments over 30 years, and the interest rate is 0.2% fixed and the purpose of signing the loan To develop 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.

The Minister of Finance 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."

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

The signing ceremony was attended by the Undersecretary of the Minister of Oil and a number of General Directors of the Ministry

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