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Iraq secures $380mln loan from Japan for Basra refinery upgrading project
Nov 18, 2024•over 1 year ago
Contract Type
agreement
Al Basra GovernorateNon ProfitDescription
Iraq's Ministry of Finance has signed a loan agreement worth 60.04 billion Japanese yen ($380 million) with the Japan International Cooperation Agency (JICA) to fund the ongoing Basrah Refinery Upgrading Project. This agreement marks the sixth tranche of Official Development Assistance (ODA) provided by JICA for the project, as part of Iraq's strategy to modernize its oil and gas infrastructure and reduce reliance on imported refined products.
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