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Iraq seeks loan from Japan for water projects
0 Comments | AFP, August, 2008
BAGHDAD (AFP) — Iraq is negotiating a multi-million-dollar loan from Japan to fund water and sewage projects in Baghdad and in the northern Kurdish region, the government said on Wednesday.
The cabinet has approved the 36.5-billion-yen (332-million-dollar) loan and the proposal was now with the Iraqi parliament, government spokesman Ali al-Dabbagh said in a statement.
He said there would be no interest charge on the first 10 years of the 40-year repayment period, and during the remaining 30 years the loan would attract interest of 0.65 percent.
The loan would be used to finance a water project in the northern Kurdish region and a sewage project in Baghdad, the statement added.
In 2003, Japan announced a five-billion-dollar aid package to Iraq at an...
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