$105US million in loans has been approved for Kurdistan’s Qaiwan Group to finance part of the 442-MW Bazian Power Plant.
Both Deutsche Bank and the Dubai branch of Lebanon's Bankmed have jointly funded the loan in an 8-year $75US million buyer credit. In conjunction is, Coface, an export credit agency branch of the French government. GE was also part of the loan, having approved a $30US million commercial loan.
Financial advising to the Qaiwan Group was provided by CT&F Consulting DMCC.
The Bazian power plant, which will be a combined cycle power plant, will be located between Chamchamal and Sulaymaniyah in Iraq's Sulaymaniyah province.