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Iraq gets loan from Japan to develop thermal power station

Posted By: Doraiah Vundavally August 5, 2017

Iraq gets loan from Japan to develop thermal power stationBaghdad, Aug 6 (IANS) Iraq is promised to get a loan of $195 million from Japan to develop a thermal power station in Basra province, said an Iraqi government statement on Saturday.

The loan was signed during a visit to Iraq by Japan's State Minister for Foreign Affairs, Kentaro Sonoura, who met Prime Minister Haider al-Abadi, the statement said, Xinhua reported.

Iraq needs external financing to plug a budget deficit of approximately 25 trillion Iraqi dinars ($21.44 billion) for this year as it grapples with lower global oil prices and costs associated with the fight against Islamic State.

 

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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Iraq gets loan from Japan to develop thermal power station

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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.