PROJECTS: Iraqi bank extends loans totaling $3bln for reconstruction projects

SectorFinancial Services
CountryMiddle east

PROJECTS: Iraqi bank extends loans totaling $3bln for reconstruction projects Key projects include Basmaya residential project and Baghdad Mall    Image used for illustrative purpose. A man works at a construction site in Iraq's northern province of Arbil September 25, 2010. Iraq's top commercial bank Trade Bank of Iraq (TBI) has extended loans worth more than $3 billion to reconstruction projects, a government official said.Mudher Muhammed Saleh, the financial advisor to the Iraqi government, told Zawya Projects that these amounts were extended in 2019 to support government institutions and agencies.Major projects financed by TBI loans include the Bismayah City project in Bagdad and the Baghdad Mall in Al-Harithiya, noted Saleh.(Reporting by Majda Muhsen; Editing by Anoop Menon)( This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy.

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