Japan to give $750 million loans to Iraq Tuesday, 22 November 2011 14:07

TOKYO: Japan will offer Iraq loans totalling $750 million to help rebuild the oil-rich country, Prime Minister Yoshihiko Noda said Tuesday 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. (AFP)