By John Lee.
A $75 million trade finance facility has been agreed between the European Bank for Reconstruction and Development (EBRD) and Al Mansour Bank for Investment (MBI), one of Iraq's leading private-sector banks.
The facility is provided under the EBRD's Trade Facilitation Programme (TFP) and will offer guarantees and cash advances to support MBI's trade finance activities, covering political and commercial payment risks associated with cross-border import and export transactions.
According to the EBRD, the facility will help MBI expand its correspondent banking network and increase the availability of trade finance for Iraqi businesses, including micro, small and medium-sized enterprises (MSMEs), across sectors including agriculture, construction, manufacturing and consumer goods.
Accompanying technical assistance will include advisory support, specialised training, participation in the EBRD's Trade Finance e-Learning Programme, and workshops on compliance, fraud prevention and risk management.
MBI was established in 2006 and is majority owned by Qatar National Bank Group. It operates eight branches across Iraq, offering retail and corporate banking, trade finance and treasury services.
The EBRD began operations in Iraq in September 2025, focusing on private-sector development, access to finance and entrepreneurship.
(Source: European Bank for Reconstruction and Development)
No comments yet.