By John Lee. Reuters quotes a central bank spokesman as saying that the Islamic Development Bank (IDB) has given its initial agreement to provide $3 billion in easy loans and grants to Iraq. Iraq earlier this month agreed a $5.4 billion standby loan with the International Monetary Fund (IMF) in a deal that could unlock […]
Tag Archives | Islamic Development Bank
Tags: Central Bank of Iraq (CBI), featured, International Monetary Fund (IMF), Iraq Budget News, Islamic Development Bank
Iraq Seeks $500 million from Islamic Development Bank
By Simon Kent. Two days after the beginning of Iraq's entry into the Eurobond market, in which the country hopes to raise up to $6 billion, Iraq has announced it is seeking a $500 million loan from the Jeddah based Islamic Development Bank (IDB.) However, according to a source in the Iraqi govt. the sum […]
Tags: Baghdad, Deficit, featured, Infrastructure, Iraq, Islamic Development Bank, Jeddah, Sovereign Debt
IDB Contributes $217m for Major Trade Corridor
Iraq’s Finance Minister, HE Dr. Safauddin Mohammed Al Safi, and the Acting President of the Islamic Development Bank (IDB), Dr. Abdul Aziz Al Hinai (pictured), have signed an agreement for $217 million to fund the construction of Expressway No. 1, a major trade-corridor connecting Iraq to its neighbouring countries. The signing was attended by HE […]
World Bank Approves $335m Road Fund
From The World Bank. A new project will reduce traffic fatalities by nearly 25 percent on two transport corridors connecting Iraq to its northern, southern and western neighbors and beyond. The US$355 million Iraq Transport Corridors Project, approved by the World Bank Board of Directors on Thursday, will improve road quality and safety and promote […]
New UK Boost for Arab Businesses
By Editor on 30th October 2013 in ‘Your Country’ – United Kingdom, Iraq Banking & Finance News, Iraq Industry & Trade News
Businesses across the Middle East and North Africa will get a £4.5 million boost from the UK, Prime Minister David Cameron announced at the World Islamic Economic Forum on Tuesday. The UK’s funding to the Nomou business fund will be matched by the Shell Foundation to support ‘missing middle’ businesses - those too large for […]
Tags: 'Your Country' - United Kingdom, Arab Women’s Enterprise Fund, Islamic Development Bank, Nomou, Shell Foundation, World Islamic Economic Forum (WIEF)
Iraq Applies to Join ECO
Iraq has applied to join the Economic Cooperation Organization, or ECO, Turkey's President Abdullah Gul has reported, according to an article at the weekend from World Bulletin. Leaders of ECO-member countries gathered in Istanbul for a one-day summit meeting during which Turkey assumed the rotating term presidency from Iran. Iraq, as well as Qatar and […]