Arab News Japan

TOKYO: Japanese Ambassador to Iraq MATSUMOTO Futoshi and Iraq’s Minister of Finance Taif Sami Mohammed exchanged letters regarding the Samawah Water Supply Development Project for a yen loan worth up to 45.298 billion yen ($318 million) in Baghdad on Sunday.

This project is intended to improve the water supply quantity, water quality, and water supply time, as well as the effective use of water resources, by constructing water supply facilities, including desalination facilities, in southern Iraq’s Samawah City. 

It is expected to contribute to a stable supply of drinking water and the promotion of economic and social development-in the area.

The money is a loan with a redemption period of 25 years, including a grace period of seven years.