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Iraq to borrow from Japan $ 195 million to repair "electricity"
Last updated: 6 August 2017 - 9:38 p
The government said in a statement on Sunday that Japan agreed to lend $ 195 million to a project to contribute to the rehabilitation of a thermal power plant in the province of Basra in southern Iraq. The statement said that the agreement signed between the Iraqi and Japanese sides, during the visit of Minister Japan needs foreign funding to fill the budget deficit of 25 trillion Iraqi dinars ($ 21.44 billion) this year at a time of falling world oil prices and the cost of fighting Nazeem "Daesh" It is said that the head of Iraq 's oil producer in OPEC, but suffers from a chronic shortage of electricity. Its weak network faces difficulty in meeting demand after years of war, sanctions and neglect. Iraq has spent $ 47 billion on the Ministry of Electricity and has not improved.
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Last updated: 6 August 2017 - 9:38 p
The government said in a statement on Sunday that Japan agreed to lend $ 195 million to a project to contribute to the rehabilitation of a thermal power plant in the province of Basra in southern Iraq. The statement said that the agreement signed between the Iraqi and Japanese sides, during the visit of Minister Japan needs foreign funding to fill the budget deficit of 25 trillion Iraqi dinars ($ 21.44 billion) this year at a time of falling world oil prices and the cost of fighting Nazeem "Daesh" It is said that the head of Iraq 's oil producer in OPEC, but suffers from a chronic shortage of electricity. Its weak network faces difficulty in meeting demand after years of war, sanctions and neglect. Iraq has spent $ 47 billion on the Ministry of Electricity and has not improved.
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