Japan Lends Iraq $ 195 Million for Electricity Sector






August 6, 2017

Baghdad-Journal News

The United States has agreed to lend Iraq $ 195 million to repair major electrical circuits in the country, the New York Times reported Sunday.

In spite of the fact that Iraq is rich in oil resources, it does not have the budget to repair the ongoing electricity cuts in some cities, which are absent in other countries, the paper said in its report, the Journal News. The loan contract was signed on Saturday at the meeting of Prime Minister Haidar Abadi and Japanese Foreign Minister Kanteru Sonora.

The newspaper said that Iraq needs more than 21 billion dollars this year, to compensate for the low prices of oil sales, and caused by the destruction of an organization in the country.

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