JICA refutes news of $2bn Iraq loan
Early reports suggested Japan was supporting new 1800MW project
Japan’s International Cooperation Agency (JICA) has told Utilities Middle East that reports that the organisation had agreed a US $2 billion loan for the construction of a new Iraqi power plant are inaccurate. The organisation, which is Japan’s principal overseas development agency, was previously said to have agreed the massive loan to help finance a new 1800 MW electricity project in Al-Nasseriya in the south of Iraq.
JICA says that the most recent Japanese Official Development Assistance (ODA) loan to Iraq was a $1.12 billion agreement for three projects in the first quarter of 2010. This included a Water Supply Sector Loan Project to upgrade and construct water facilities to ensure potable water supplies to Anbar, Ninawa and Salah ad-Din governorates, together with the construction of the Al-Alkkaz Gas Power Plant project which will see the construction of a gas thermal power station in Anbar governorate. The loan also covered the construction of the Deralok Hydropower Plant in Kurdistan’s Dahuk governorate to boost power supply in the region.