New lending facility to help Iraqi middle market enterprises

Published March 7th, 2005 - 03:27 GMT

The Overseas Private Investment Corporation (OPIC), an agency of the United States Government, and Citigroup have announced the extension of a US$ 131 million lending facility to help Iraqi middle market enterprises tap needed working capital requirements.

 

The project will benefit from a $92.8 million facility provided by Citigroup with a comprehensive guaranty from OPIC. The other $38.2 million derive from a $23.2 million grant by the Coalition Provisional Authority and a $15 million syndicated bank facility arranged by Citigroup. BNP Paribas and HBK participated with $5 million each.

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