Japan to lend Iraq $3.5 bn for oil, gas projects

Japan, which imports 99% of its oil, will lend Iraq $3.5 billion to finance three projects in southern Iraq aimed at helping the conflict-stricken country boost exports.
The yen-denominated loan will finance the redevelopment and upgrade of a refinery in Basra, improvements to oil export infrastructure and a project to produce liquefied petroleum gas, Shin Hosaka, director of the oil and gas division at the trade ministry, told reporters in Tokyo on Monday.

financialexpress