(Arabic Translation is attached/الترجمة العربية مرفقة)
May 29, 2012
No.13
Provision of Yen Loan to Iraq
- The Government of Japan has announced its intention to provide yen loans up to the total amount of 67 billion yen to the Republic of Iraq for implementing 4 projects enumerated in below 2. Notes to this effect were exchanged on May 29, 2012 in Baghdad between Kenichiro Mukai, Charge d'Affaires ad interim of Japan to the Republic of Iraq, and H.E. Dr. Rafea Heyad Al-Eissawi, Minister of Finance of the Republic of Iraq.
- Projects and the maximum amount of the loans are as follows;
(1) Health sector reconstruction project
- Purpose : The project aims at realizing fair distribution of health services across the nation and strengthening the healthcare system in Iraq through establishing new hospitals at the secondary level in suburban areas, thereby contributing to improving the health of the people of the Republic of Iraq.
- Project site: Governorates of Thi Qar, Basra, Salaheddin, Kirkuk, Diyala, Babiylon and Karbala
- Amount of yen loan: up to 10,245 million yen (total project cost: 10,589 million yen)
(2) Communications network development project for major cities
- Purpose : The project aims at improvement of the communication environment as a basic industrial infrastructure in the Republic of Iraq by developing Internet Protocol communication systems and Local Access Networks in major cities in the Republic.
- Project site : Major Cities such as Baghdad, Basra and Mosul
- Amount of yen loan: up to 11,674 million yen (total project cost: 12,821 million yen)
(3) Basrah refinery upgrading project
- Purpose : The project aims at improvement in the quality of refined products and reduction of the supply-demand gap of oil products through strengthening the productivity of oil products, by installing a new Fluid Catalytic Cracking Complex in the existing Basrah Refinery. The improvement in production capacity will allow the Republic of Iraq to prevent the drain of foreign currency due to import of refined products.
- Project site: Governorate of Al-Basrah
- Amount of yen loan: up to 42,435 million yen (total project cost: 165,329 million yen)
(4) Baiji refinery upgrading project (Engineering services)
- Purpose : The project includes the Front End Engineering Design and its relevant engineering services to introduce modern process by installing a new Fluid Catalytic Cracking Complex in the existing Baiji Refinery.
- Project site : Governorates of Salaheddin
- Amount of yen loan: up to 2,676 million yen (total project cost: 7,960 million yen)
- Up to date, Emergency grant-aid of 1.7 billion U.S. Dollars was delivered for various programs, and 15 ODA Loans total of which amount 3.28 billion U.S. Dollars are being executed in the areas of electricity, oil, water and sanitation, irrigation, transportation and industry.
With above mentioned Exchange of Notes, the overall cumulative amount of 19 ODA Loans not only completes the final round of Japan’s yen loan package of up to 3.5 billion dollars announced at the Conference held in Madrid in 2003, but also goes beyond it.
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