Japan is to offer $530 million in loans to Iraq, in part to help rebuild oil refineries, an official said Friday, as Tokyo seeks to diversify fuel supplies after the tightening of sanctions on Iran.
Loans totalling 42.5 billion yen have been pledged to Baghdad to aid the war-ravaged country with four infrastructure projects, including a refinery in the southern city of Basra and another in the northern city of Baiji, a foreign ministry spokesman said.
A hospital and telecommunications system will also benefit. (tribune.com.pk)
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