World Bank Private Sector Investment Firm Arranges $375US Million to Finance Iraqi and Kurdistan Power Plants

Will supply half of Iraqi Capital's Electricity

Two power plants will receive funding from the $375US million fund from the World Bank‘s private sector investment, says Vice President of the organisation, Dimitris Tsitsiragos. 

The complete fund will comprise of monies from the International Finance Corporation (IFC), $250US million and $125US milllion from the Audi bank in Lebanon. 

Part of the money from the World Bank will fund a power the power plant Mass Global Energy's project to add 500 megawatts to a 1,000 MW capacity power plant in Kurdistan that will service 3 million people. Another project in Baghdad will be completely funded to supply power to half the residents of Baghdad. 



 

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