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1 week ago | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. Iraq's Ministry of Finance signed two new credit agreements on Tuesday with the French development agency, Agence Française de Développement (AFD), to finance critical infrastructure projects in the sanitation sector. The first agreement includes a €30-million supplementary loan for the sewage project in Khalidiya district, Anbar, raising total funding for the project to €110 million. The second agreement allocates €100 million to a new sewage project in Hamza district, Diwaniyah.
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3 weeks ago | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. Iraq's Ministry of Planning held discussions with representatives of the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit; GIZ) in Iraq to explore cooperation and developmental transformation.
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2 months ago | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. The Central Bank of Iraq (CBI) has announced a new initiative to support clean energy solutions, aligning with global sustainability efforts and the environmental policies of central banks worldwide. As part of its renewable energy initiative, CBI will offer low-interest loans to local brick factories, enabling them to switch from high-pollution fuel (black oil) to cleaner liquefied gas (LPG).
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2 months ago | 
iraq-businessnews.com | Iraq Banking |John Lee
By John Lee. In line with directives from the Ministry of Finance and the Central Bank of Iraq (CBI), Al-Rafidain Bank has announced the launch of the first issuance of national bonds worth IQD 2 trillion [$1.5 billion]. The issuance period runs from February 10 to March 10, 2025. The bonds are available in two categories:IQD 500,000 bonds with a 6% annual interest rate, payable every six months, maturing in two years.
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Feb 11, 2025 | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. Standard Chartered has successfully arranged a $95-million term loan for the Iraqi Ministry of Finance, supporting the supply of five electrical substations across northern and southern Iraq. The financing, backed by a 100% UK Export Finance (UKEF) guarantee, covers both political and commercial risks. The Ministry of Electricity will use the funds to procure equipment from the United Kingdom, strengthening Iraq's power infrastructure.
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Feb 10, 2025 | 
iraq-businessnews.com | Iraq Banking |John Lee
S&P Affirms Iraq at 'B-/B'; Outlook Stable By John Lee. S&P Global Ratings has affirmed its 'B-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Iraq. "The outlook is stable," it added. More details, including economic stats, here. (Source: S&P Global Ratings)
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Jan 28, 2025 | 
iraq-businessnews.com | John Lee |Iraq Banking
By on in Construction & Engineering In Iraq, Investment, Iraq Banking & Finance News, Iraq Industry & Trade News By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, participated in the Iraq Energy 2025 Conference in Baghdad, organised by the Iraq Development Platform. During a panel discussion, the Governor highlighted the CBI's adoption of non-traditional monetary policies aimed at economic stability.
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Jan 28, 2025 | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. Iraq's Central Organisation for Standardisation and Quality Control (COSQC) has opened its fourth unit for testing and hallmarking precious metals and imported gold at Kirkuk International Airport. The ceremony, led by Dr. Fayadh Mohammed Abdul-Dulaimi, COSQC President, was attended by key officials, including airport customs and border management representatives.
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Jan 24, 2025 | 
iraq-businessnews.com | Iraq Banking |John Lee
By John Lee. Prime Minister Mohammed S. Al-Sudani met this week with Fahd bin Mohammed Al-Turki, Chairman of the Arab Monetary Fund, to discuss closer collaboration. Strategic Partnership and Support: Iraq is committed to supporting the Arab Monetary Fund's activities, emphasizing its role as a founding member and major contributor to the Fund. Development Goals: The Iraqi Prime Minister stressed the importance of the Fund's contributions to Iraq's reconstruction and infrastructure development.
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Jan 23, 2025 | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. The Financial Action Task Force (FATF) has completed an assessment of Iraq's measures to combat money laundering and terrorist financing, and this week published its report. The assessment is a comprehensive review of the effectiveness of Iraq's measures to protect the financial system from abuse and its level of compliance with the FATF Recommendations, as at the date of the on-site visit from 6 to 23 August 2023.
