Japanese Loan Ratified

BAGHDAD / IraqiNews.com: The Iraqi Parliament ratified today two memoranda and two letters containing the Japanese loan to finance a number of electrical and water projects.   The figure of the loan reportedly reached 87.84 billion Japanese Yen.   A statement, issued by the parliamentary media center, said that the loan is “to rebuild Iraq, encourage its economic stability and enhance building Iraqi infrastructure, as well as developing financial relations between the two countries.”   The loan will be used in financing water project in the center and west of Iraq at a cost of 141 billion Yen, Akaz Gas electrical station with the cost of 229 billion Yen and Dirlouk electro-water station with the cost of 316 billion Yen.   The discussions of this loan date back to 21 February 2010, between the Iraqi finance minister and the Japanese ambassador to Iraq. RM (TS)/SR 560