IRAQ GETS LOAN FROM JAPAN TO DEVELOP THERMAL POWER STATION

Iraq is to get a loan of 195 million U.S. dollars from Japan, to develop a thermal power station in Basra province, said an Iraqi government statement, Saturday.

The loan was signed during a visit to Iraq, by Japan's State Minister for Foreign Affairs, Kentaro Sonoura, who met Prime Minister, Haider al-Abadi, on Saturday, the statement said.

Iraq needs external financing, to plug a budget deficit of approximately 25 trillion Iraqi dinars (21.44 billion u.s. dollars), for this year, as it grapples with lower global oil prices, and costs associated with the fight against the Daesh

Source: NAM News Network