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After 31 years, Japan to resume loaning to Iraq

JBIC, Mitsubishi, Sumitomo to offer 53 billion yen for power project

TOKYO -- The Japan Bank for International Cooperation and the country's two leading commercial banks are preparing to make Japan's first loan to Iraq in 31 years.

The government-owned bank will join hands with Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking to support an Iraqi government power project that includes purchasing power-related equipment from Japanese companies.

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