February 7, 2017 / 12:05 PM / 9 months ago

Japan approves $100 million loan for Iraq

BAGHDAD (Reuters) - Japan has approved a loan of about $100 million to support humanitarian, counter-terrorism and infrastructure projects in Iraq, a Japanese embassy statement said on Tuesday.

Japan last month agreed to lend Iraq up to 27.2 billion yen ($240 million) to rebuild damaged electricity infrastructure in areas recaptured from Islamic State.

Iraq’s government income, which comes almost exclusively from oil exports, fell sharply when crude prices tumbled three years ago.

Reporting by Saif Hameed

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