Financial and Banking News


UK Lends £175mn to Iraq

The UK's Export Credit Guarantees Department (ECGD) last week signed an agreement with Iraq's Trade Minister, Mr. Muhammad Mahdi Salih, which provides for a line of credit worth £175mn ($290mn) to finance British exports of machinery, services and pharmaceuticals. Two existing ECGD lines for Iraq, worth £275mn and £300mn and arranged by Morgan Grenfell and Midland Bank respectively, are due...