Middle East Economic Survey


No 12



Iraq To Raise $2.1Bn Through Bonds To Fund Power Projects

Iraq will use some $2.1bn raised through local banks via a reopened one-year treasury bond to fund a number of new electricity projects, Finance Minister Bayan Baqir Jabr said on 17 March. The bond was issued last week after a first tranche issued in late 2009 raised around $3bn, he told reporters. Local banks bought the bonds using funds from their reserve requirements, lending...