Financial and Banking News


Japan Lends Iraq $60mn for Fertilizer Plant 

The Japanese government has agreed to lend Iraq around $60mn to finance the $275mn fertilizer plant at the Baiji fertilizer complex. The loan is repayable over 25 years, including seven years' grace, with an annual interest rate of 4% and is part of a $1.5bn Japanese government credit facility to Iraq. Contractors for the project are an American-Japanese consortium composed of M. W. Kellog, Hitachi...