The Japanese government plans to resume its credit insurance programme for exports to Iraq on a full-scale basis by the end of this month at the earliest, officials at an affiliate with the Ministry of Economy, Trade and Industry (METI) said Monday (8 September).
The move is intended to encourage Japanese companies to actively involve themselves in the reconstruction of post-war Iraq in the wake of the launch by the US-led Coalition Provisional Authority (CPA) of the Trade Bank for Iraq in July to promote reconstruction work, the officials said.
It will be the first time in 13 years that Japan has resumed fully its export credit for Iraq, which is to be provided through Nippon Export and Investment Insurance, an export credit agency affiliated with METI.
Japanese government credit will be made available for a period of less than two years for export contracts eligible for the issuance of a letter of credit from the Trade Bank for Iraq, the officials said...
