Iraq will get $300 million from Japan to upgrade one of its oil refineries, local reports have said.
The reports quoted Japanese Foreign Minister Toshimitsu Motegi as saying that this assistance would be in the form of low-interest loans.
The financial aid will be used to expand one of Iraq’s major refineries in Basra, southern Iraq, as part of the efforts to rebuild the economy.
The pledge was made during Motegi’s trip to Baghdad, said the reports, adding that this was the first visit to Iraq by a Japanese foreign minister since Taro Aso in August 2006.
During the trip, Motegi is also said to have held a meeting with his Iraqi counterpart Fuad Hussein.
He also held separate talks in Baghdad with Iraqi President Barham Salih and Prime Minister Mustafa al-Kadhimi.
The two sides reportedly agreed to step up cooperation in ensuring peace and stability in the Middle-Eastern country.
The Foreign Ministry apparently did not announce Motegi’s visit to Iraq, which came as part of his Middle-East tour, due to safety reasons.
Motegi and Hussein are also said to have discussed regional issues including the crisis in Afghanistan, as well as ways to expand business ties between Japan and Iraq.
