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

on 1 Dec 2023

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


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