The two countries agree to protect their investments from all non-commercial risks and boost foreign capital The agreement protects the two countries' investments from all non-commercial risks, including nationalisation, confiscation, judicial seizures and freezing. Photo: Ministry of Finance The UAE has signed an agreement with Iraq to promote and protect mutual investme
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Baghdad, Iraq, October 24, 2021- To support the growth of smaller businesses in Iraq and help them create jobs and overcome challenges, including from COVID-19-related disruptions, IFC today announced an investment for the National Bank of Iraq (NBI). IFC's $10 million loan to NBI will allow the bank to increase lending to small businesses in Iraq across a range of sectors.
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Four firms submitted bids for the first phase of the project linking the two countries Jordan's National Electric Power Company (Nepco) is evaluating the bids it has received for the contract to install a gas insulated switchgear (GIS) as part of the project to build a substation to link the country’s electricity grid with Iraq. MEED understands the firms that s
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Oil ministry says relations are improving across the energy and industrial sectors Iraq and Saudi Arabia have discussed increased cooperation on developing gas fields, according to Iraq’s Oil Minister Ihsan Abdul-Jabbar. In a statement he said bilateral relations were improving across the energy and industrial sectors, including developing gas resources, petrochemical pro
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The West Qurna 1 field contract is worth $480m Iraq has signed a $480m contract with US-based Schlumberger to drill 96 horizontal and diagonal oil wells at the West Qurna 1 field in Basrah. Saad al-Damen, vice president of Schlumberger, said the contract will add 200,000 barrels a day (b/d) to production at the field. The undersecretary at Iraq's Oil Ministry, Hamid Yo
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