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Economist: A billion dollar loan helps to revive the Iraqi economy
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Al-Ameen welcomed the Japanese agency JICA to provide [You must be registered and logged in to see this link.]billion dollars for the development of an oil refinery in Basra, describing it as "a good step that enhances the possibility of developing the production of oil derivatives at a high level and in the countries of the world."
Al-Amin said in a press statement: "The loan is easy and low interest rate and is used in the development of facilities that generate money and can recover the amounts borrowed."
He added: "This step is important and help the recovery of the local economy through the development of the refinery, which in turn will save money for Iraq to spend on the import of oil derivatives, and contributes to improve the quality of gasoline fuel at a high level and other products will increase their quantities and maintain quality.
"The Japanese agency identifies the imbalances in the productive places and gives loans on the basis of that to address the problems and develop or structure again," he said, calling on other countries to grant [You must be registered and logged in to see this link.] soft loans like [You must be registered and logged in to see this link.] to develop industrial facilities that help to support the economy.
Finance Minister Fuad Hussein and Japanese Ambassador to [You must be registered and logged in to see this link.]Naowvi Hashimoto signed mutual memoranda on the one-billion-dollar loan with a 40-year grace period and a 10-year grace period. The loan is repaid in half-yearly installments over 30 years and the interest rate is 0.2 percent fixed.
[You must be registered and logged in to see this link.]
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Al-Ameen welcomed the Japanese agency JICA to provide [You must be registered and logged in to see this link.]billion dollars for the development of an oil refinery in Basra, describing it as "a good step that enhances the possibility of developing the production of oil derivatives at a high level and in the countries of the world."
Al-Amin said in a press statement: "The loan is easy and low interest rate and is used in the development of facilities that generate money and can recover the amounts borrowed."
He added: "This step is important and help the recovery of the local economy through the development of the refinery, which in turn will save money for Iraq to spend on the import of oil derivatives, and contributes to improve the quality of gasoline fuel at a high level and other products will increase their quantities and maintain quality.
"The Japanese agency identifies the imbalances in the productive places and gives loans on the basis of that to address the problems and develop or structure again," he said, calling on other countries to grant [You must be registered and logged in to see this link.] soft loans like [You must be registered and logged in to see this link.] to develop industrial facilities that help to support the economy.
Finance Minister Fuad Hussein and Japanese Ambassador to [You must be registered and logged in to see this link.]Naowvi Hashimoto signed mutual memoranda on the one-billion-dollar loan with a 40-year grace period and a 10-year grace period. The loan is repaid in half-yearly installments over 30 years and the interest rate is 0.2 percent fixed.
[You must be registered and logged in to see this link.]
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