Tag Archives | International Finance Corporation (IFC)

New Delivery App plans Expansion in Iraq

By John Lee. A Beirut-based delivery startup has said it will use new funding to support expansion in Iraq. Toters last month raised more than $15 million in series-B funding from the International Finance Corporation (IFC), March Holding, and BY Venture Partners, having previously raised over $5 million in two previous rounds. According to Naharnet, […]

IFC, NBI boost access to Finance for SMEs, Create Jobs

IFC, National Bank of Iraq Partner to Boost Access to Finance for SMEs, Create Jobs To support the growth of smaller businesses in Iraq and help them create jobs and overcome challenges, including from COVID-19-related disruptions, the International Finance Corporation (IFC) has announced an investment for the National Bank of Iraq (NBI). IFC's $10 million […]

IBBC's Autumn Conference - Open for Business Engagement

IBBC's Autumn conference is back with a bang and open for business engagement. On 22nd November this year the overarching conference topic is looking to the future with 'sustainability'- whether in terms of energy and renewables, the Iraqi economy and its diversification, or sustaining finance, logistics and training. Underpinning much of this is the application […]

UK Law Firm advises on Iraq Port Deal

By John Lee. UK-based international law firm Clifford Chance has announced that it has advised International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA) on the US$125 million financing of the development, construction, equipping and operation of both new and existing facilities at the Umm Qasr Port in Iraq. In a press release, the […]

World Bank President discusses Iraqi Projects

By John Lee. World Bank Group President David Malpass met with Iraqi Prime Minister Mustafa Al-Kadhimi during his visit to the United States this week. During the meeting, they discussed the cooperation in financing infrastructure projects in the fields of water, airports, natural gas and energy projects, especially solar. President Malpass affirmed to Prime Minister […]

Supporting Vulnerable Youth to Develop Skills

ILO and UNICEF collaborate to support vulnerable youth in Iraq to develop skills and transition from training to decent employment, with support from the Government of the Netherlands The United Nations Children's Fund (UNICEF) and the International Labour Organization (ILO) in Iraq are working together to help young forcibly displaced persons and host community members […]

IFC Invests in Hospital in Erbil

By John Lee. IFC, a member of the World Bank Group, is investing over $26 million in a new 161-bed hospital in Erbil in the Kurdistan Region of Iraq. The facility will increase the availability of quality healthcare services and help address gaps in the country's healthcare infrastructure. The $92 million Seema Hospital project is […]

Iraq hosts Lebanese Business Delegation

By John Lee. A delegation of major Lebanese companies have arrived in Baghdad for a series of meetings with Iraq's National Investment Commission (NIC). The were accompanied the Lebanese Minister of Telecommunications, Dr. Muhamed Shuqair, and the opening meeting was attended by the Iraqi Minister of telecommunications, Dr. Naeem Al- Rubaiee; NIC Chairman, Dr. Sami […]

IFC arranges $269m Financing for Zain Iraq

The International Finance Corporation (IFC), a member of the World Bank Group, is providing a financing package of $269 million to Zain Iraq, a leading mobile network operator, to help reconstruct the country’s telecom operations and spur economic growth. IFC arranged a $269 million debt package including $100 million from IFC’s own account, and $169 […]

IFC, CBI to Strengthen Corporate Governance in Banking

IFC and Central Bank of Iraq to Strengthen Corporate Governance in the Banking Sector The International Finance Corporation (IFC), a member of the World Bank Group, and the Central Bank of Iraq (CBI) are launching a series of specialized workshops, starting today, to raise corporate governance standards in Iraqi banks and strengthen the country’s banking […]