Iraq signs $300million Loan Agreement with Japan

Shafaq News / Iraq inked a deal on Sunday for a $300 million loan from the Japan International Cooperation Agency (JICA) to fund a project aimed at enhancing water supplies in the city of Samawah, located in al-Muthanna Governorate in the south of the country.

Minister of Finance, Tayf Samy, affirmed to Shafaq News Agency, "A loan agreement was signed for the project to improve water supply in Samawah, valued at over 45 billion yen, which roughly equals $300 million, with the goal of providing the province's residents with potable water."

The minister added, "the project will contribute to increasing the quantity of potable water in the province and the efficient utilization of water resources by establishing water treatment and desalination plants in Samawah, in addition to installing water pipelines from the main station to sub-pumping stations."

The project aims to provide potable water to the people of Samawah by establishing the first large-scale water treatment plant in the province. Upon completion, the project is expected to supply local residents with water for more than 12 hours daily.

Japan has extended loans through JICA for the construction of approximately 30 significant infrastructure projects in Iraq thus far. There are five proposed projects, including a loan project in two phases for the year 2024, part of Japan's ongoing support for Iraq's infrastructure development.