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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    IFC Investments Help Support Iraq’s Economic Stability

    Rocky
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    IFC Investments Help Support Iraq’s Economic Stability Empty IFC Investments Help Support Iraq’s Economic Stability

    Post by Rocky Fri 21 Oct 2016, 8:02 am

    IFC Investments Help Support Iraq’s Economic Stability

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    October 21, 2016 in [You must be registered and logged in to see this link.][You must be registered and logged in to see this link.]

    The International Finance Corporation (IFC), a member of the World Bank Group, has invested a total of $410 million (including $125 million in mobilization) in Iraq to support the development of the nation’s private sector, with a special emphasis on improving access to vital infrastructure and supporting the manufacturing sector.
    In fiscal year 2016, IFC finalized a $375 million financing package for a leading private Iraqi power company to help provide electricity to millions of people across the country, particularly in the Kurdistan Region of Iraq, where a migrant crisis has strained power infrastructure.
    Ziad Badr, IFC Principal Country Officer in Iraq, said:
    Iraq is a priority country for IFC in the region. The current security situation and sharp drop in oil prices highlights the need to foster a diversified economy and boost economic growth.
    “With over 90 percent of government revenues generated from the oil sector, IFC’s support to the private sector is crucial for the growth of the non-oil economy and creation of jobs.
    Since FY11, IFC has invested $1.1 billion in long-term financing in Iraq (including $378 million mobilized from other investors and $8.3 million from MIGA). IFC’s portfolio currently stands at $441 million.
    IFC investment and advisory projects focus on boosting trade, increasing South-South investments, improving infrastructure, and bolstering access to finance for micro, small and medium enterprises.
    (Source: IFC)



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