By John Lee. The Iraqi Cabinet approved the recommendations of the Sovereign Guarantees Committee regarding the Al-Khairat Power Station. The new facility is being built by Harlow International, which describes it as, "the largest thermal power plant project in Iraq ... which will provide more than 10% of Iraq's power demand when fully operational." According […]
Tag Archives | loan guarantee
Iraq Approves Loan Guarantees for major Gas Project
By John Lee. The Iraqi Cabinet has approved sovereign guarantees totalling $3.25 billion, in relation to the development of the Nahr Bin Umar [Nahr Ben Umar] gas field in Basra. It also exempted the special purpose company Halfaya Gas Company Ltd. (HGC), which was established to develop the field, from the requirement to submit two […]
Iraq Makes Progress on e-Payments
By John Lee. The Central Bank of Iraq (CBI) has reported an increase in foreign reserves to 148 trillion dinars [$113 billion] and deposits in the banking sector to 131 trillion dinars [$100 billion], which it says indicates a positive trend in monetary stability and financial growth. According to the state-run Iraqi News Agency (INA), […]
Central Bank of Iraq (CBI) plans Loan Guarantee Company
By John Lee. The Governor of Central Bank of Iraq (CBI), Dr. Ali Mohsen Al-Alaq, has met with a delegation of experts from the International Finance Corporation (IFC), affiliated with the World Bank, led by Mr. Marcel Rashid. The meeting focused on enhancing the relationship between the Central Bank of Iraq and the IFC, and […]