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Japan International Cooperation Agency (JICA) signs $1.01bn Official Development Assistance Loan in Baghdad

The ODA loan from Japan will be aimed towards elevating the production in Iraq’s oil facilities including the installation of a fluid catalytic cracking (FCC) complex.

A loan agreement in the amount of $1.01 bn has been negotiated between the Japan International Cooperation Agency and the (JICA) and Baghdad government for Official Development Assistance (ODA) which is aimed to help support growth in the production output in Iraq’s Basras’s Refinery Upgrade Project II geared towards improving the gasoline and diesel imports.


The loan from Japan will be aimed towards elevating the production in Iraq’s oil facilities including the installation of a fluid catalytic cracking (FCC) complex.  


Alongside with the loan Japanese technology and know-how will be headlining the project alongside STEP - Special Terms for Economic Partnership to assist with international environmental regulations and standards for production in the energy sector.


Source: ConstructionWeekOnline


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