October 3, 2018 / 10:40 AM / 2 months ago

Trade Bank of Iraq signs 100 million euro loan agreement with Commerzbank

DUBAI, Oct 3 (Reuters) - Trade Bank of Iraq (TBI), a government owned lender, has signed a loan agreement with Commerzbank to support small and medium sized enterprises in Iraq.

TBI aims to back public and private sector projects worth up to 100 million euros ($115 million) in business volume, it said in a statement.

The focus of the financing partnership will be on export contracts awarded to clients of Commerzbank in Germany and other European countries.

$1 = 0.8651 euros Reporting by Davide Barbuscia; Editing by Toby Chopra

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