Standard Chartered announces GBP226 million financing for the Iraqi government to develop water drainage infrastructure

Standard Chartered, as sole Structuring Bank, Mandated Lead Arranger and Agent, announces GBP226 million of financing to help construct a drainage network over 350km long to improve clean water supply to the Al-Hillah district in Iraq. This will bring clean water to tens of thousands of residents in the Al-Hillah district of Iraq, to the south of Baghdad.

Faruq Muhammad, Global Head of Structured Export Finance at Standard Chartered Bank, said: “We are proud to provide UKEF-backed financing for our important client, the Iraqi government, to improve sewage and drainage infrastructure for local communities in the Al-Hillah district, underpinning our here for good commitment to make a positive difference in the places we call home. Our UKEF financing capability and global network helped us deliver a unique and complex financing, collaborating with multiple companies from various countries.”

You can read the full UK Export Finance co-announcement here.

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For further information please contact:

Claire Newell

Head of Communications for UK and Europe

Tel: +44 (0)207 885 8857

Email: Claire.newell@sc.com

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