Japan Grants Iraq Loan on Concessionary Terms

Iraq and Japan signed an agreement under which Japan will make available to Iraq a loan for US$1 billion on concessionary terms (for 40 years at interest rate of 0.65% with 10 years of grace).

The proceeds of the loan will be used for water, power and sanitation projects.

Japan has already made a number of concessionary loans to Iraq, primarily for the power sector. - Thememri blog