{"id":88885,"date":"2025-09-15T00:00:00","date_gmt":"2025-09-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/09\/15\/iraq-taps-ifc-to-back-usd-620-mn-in-ports-energy-infrastructure\/"},"modified":"2025-09-15T00:00:00","modified_gmt":"2025-09-15T00:00:00","slug":"iraq-taps-ifc-to-back-usd-620-mn-in-ports-energy-infrastructure","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/09\/15\/iraq-taps-ifc-to-back-usd-620-mn-in-ports-energy-infrastructure\/","title":{"rendered":"Iraq taps IFC to back USD 620 mn in ports, energy infrastructure"},"content":{"rendered":"

<\/strong>IFC<\/strong>, Iraq partner on port + energy projects: <\/strong>Iraq tapped the International Finance Corporation (IFC) to back some USD 620 mn (c. IQD 812 bn) worth of investments in Iraq\u2019s port and energy sectors, according to a press release<\/a>. The backing comes as part of IFC\u2019s commitments to projects totaling USD 1 bn in investments \u2014 also covering housing resiliency, manufacturing, health, and food security.<\/p>\n

Here\u2019s a rundown of the notable projects:<\/strong><\/p>\n

#1- The IFC is leading, arranging, and syndicating a USD 500 mn loan to support a gas <\/strong>flaring reduction project by <\/strong>Basra Gas Company<\/a><\/strong>, the press release said. The project will capture associated gas \u2014 a byproduct of crude oil extraction \u2014 and will be based at Umm Qasr Port, according to a statement<\/a> by the Iraqi Prime Minister's Office. The funding builds upon an initial IFC loan of USD 360 mn<\/a> announced back in 2021. A timeline for the project has not been disclosed.<\/p>\n

On Basra<\/strong> Gas Co: <\/strong>Established in 2013, Basra Gas is a 25-year JV between Iraq\u2019s South Gas Co., Shell, and Mitsubishi, according to its website<\/a>. Its main activities include capturing and processing natural gas produced from oilfields instead of flaring it.<\/p>\n

#2- Umm Qasr gets a USD 120 mn upgrade: <\/strong>The IFC has partnered with Aloreen Company for Investment \u2014 with USD 120 mn in financing \u2014 to better support new container handling equipment and expand yard capacity at Iraq's Umm Qasr Port, the press release said. This will be carried out in partnership with Mediterranean Shipping Company\u2019s subsidiary Terminal Investment Limited<\/a>.<\/p>\n

On Aloreen Co. for Investment:<\/strong> Established in 2013, Aloreen operates a multipurpose terminal in Umm Qasr Port and has been doing so under the commercial name Basra Multipurpose Terminal (BMT), according to its website<\/a>. In 2021, BMT secured<\/a> a USD 125 mn financing package led by the IFC to establish a container terminal, two new berths, and increase its handling capacity.<\/p>\n

#3- Trade finances get a piece too: <\/strong>IFC has partnered with the Bank of Baghdad to open a USD 10 mn trade finance line under its Global Trade Finance Program, the press release said. This will enable Bank of Baghdad to connect with international partner banks, facilitating cross-border trade and helping improve the availability of vital goods.<\/p>\n

IFC\u2019s been active in Iraq: <\/strong>The IFC is acting as a transaction advisor<\/a> for the Iraqi government on a public-private partnership project to rehabilitate, expand, finance, operate, and maintain Baghdad International Airport. The IFC\u2019s most recent investment push in Iraq brings its commitments in the country to more than USD 2.5 bn since 2005.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IFC will arrange a loan for Umm Qasr port-based gas flaring reduction project, and invest in the port\u2019s container handling infrastructure<\/p>\n","protected":false},"author":1,"featured_media":88886,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[136],"tags":[165,695,35,37,134],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-projects","tag-debt-watch","tag-ifc","tag-iraq","tag-ports","tag-projects","wpautop","entry"],"acf":{"mongo_id":"8619bccb-9dc5-455a-816d-9e716fb790e6","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/812.jpg","photo_position":"above","homepage_title":"","full_issue_title":"IFC tapped by Iraq to back USD 620 mn investments in ports + energy infrastructure","related_issue":[88880],"teaser":"The IFC will arrange a loan for Umm Qasr port-based gas flaring reduction project, and invest in the port\u2019s container handling infrastructure","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.613e55c2-d20e-49e1-ba09-5ab959fe4ec7.mp3"},"yoast_head":"\nIraq taps IFC to back USD 620 mn in ports, energy infrastructure - 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