Bank to set up in Jordan for Iraq aid

The Japan Times Online, August 4 – The Japan Bank for International Cooperation is planning to set up a representative office in the Jordanian capital of Amman by the end of the year as part of preparations for offering aid to Iraq.

The government plans to extend up to $ 3.5 billion in yen loans through the bank to help rebuild Iraq.

The bank’s governor, Kyosuke Shinozawa, unveiled the plan Tuesday.

Turning to Iran, Shinozawa described as "very difficult" the situation facing the bank as a result of Monday’s U.N. Security Council adoption of a resolution demanding that Tehran suspend its nuclear activities by Aug. 31 or face economic sanctions.