Japan will offer Iraq loans totalling $750 million (€553.48 million) to help rebuild the oil-rich country, Prime Minister Yoshihiko Noda said yesterday in his meeting with visiting Iraqi leader Nouri al-Maliki. The money will go toward refurbishment of oil refineries and other infrastructure and health care projects, according to the Japanese foreign ministry.
Resource-poor Japan has eagerly sought to strengthen its ties with Iraq by offering reconstruction support. The world’s third-largest economy relies heavily on the Middle East for its oil needs.
Tokyo has also promoted Japan’s infrastructure technology, particularly in emerging economies.