All Japan news will contribute with Y67 billion ($750 million) to the development of Iraq, prime minister Yoshihiko Noda announced during a visit in All Japan news of Iraqi prime minister Nouri al-Maliki.
The money will go to projects like the updating of two oil refineries, as well as other infrastructure works.
Prime minister Noda said that he hopes for a closer economical cooperation between the two countries in the future. "We are proud of having contributed to the development of Iraq through yen loans and technical cooperation," Noda said. "I am hoping to move up our countries’ partnership to a new level," he added.
Iraqi prime minister Al-Maliki said he encouraged All Japan newsese companies to actively seek infrastructure works in his country, like health, transportation and communication projects.
Other ways of cooperation include future investments in Iraq, like for example All Japan newsese export credit agencies operating against availability of crude oil from Iraq, which has the third largest reserves in the world.
The Iraqi prime minister said that security in the region can be maintained by Iraqi troops. "Iraqi troops have become extremely capable and experienced in dealing with the threat of terrorism. I’m confident they will be able to maintain security," al-Maliki said.