New Financing for Iraqi Projects

By John Lee.

GE, Trade Bank of Iraq (TBI) and Standard Chartered Bank (SCB) have reportedly signed a financing MoU to accelerate the development of power and infrastructure projects in Iraq.

According to TradeArabia, a similar financing agreement with the three entities earlier this year facilitated the completion of the first phase of the ‘Power Up Plan’ signed by GE with the Ministry of Electricity to deliver more than 700 MW of power.

It adds that over the past year GE has attracted “more than nine” (sic) major global export credit agencies to Iraq, resulting in significant project investment commitment.

(Source: TradeArabia)

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