JP Morgan Branch to Open in Iraq

By John Lee.

An agreement has been reached to open a branch of JP Morgan in Iraq to finance projects implemented by American companies.

The deal was agreed during a meeting in Washington between Prime Minister Ali al-Zaidi and representatives of the bank.

Earlier this month, we reported that KAR Electrical Power Plant Production Trading FZE (KEPPT) had engaged JP Morgan to arrange development financing for a $1.6 billion urea plant in Basra.

(Source: Iraqi Prime Minister's Office)

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