General Electric signed a memorandum of understanding with the TBI bank and Standard Chartered


 

 

Baghdad

It signed a General Electric company, and the Iraqi Trade Bank, Standard Chartered Bank, a memorandum of understanding to provide the necessary funding to accelerate the pace of work in the energy and infrastructure projects in Iraq.

The company said in a statement on Wednesday, she received the “Economy News” that the note contains meet the growing demand for energy resources in the country.

The statement pointed out that the strong partnership of General Electric, with the most important local and international financial institutions, qualifies them to contribute to an active role in the implementation of energy and infrastructure projects faster in Iraq.

The memorandum of understanding comes to complement the success of the first phase of the promotion of electric power resources in the plan for Iraq, which was also supported Iraqi Trade Bank and Standard Chartered Bank; which contributed to meet the basic needs of electricity in the home of more than two million nationwide.

He had signed a similar agreement this year between the three parties that make it easier to complete the first phase of the promotion of electric power resources in Iraq signed between “General Electric” and the Iraqi Ministry of Electricity to add 700 megawatts to the national electricity grid plan, according to the statement.

These steps reflect the depth of the commitment of “General Electric” in cooperation with the Iraqi government to find innovative solutions to the financial and biotechnology issues, according to the statement.

The funding mechanisms such a prominent role in supporting projects worth US $ 500 million to the Government of Iraq, according to the statement.

AJ

http://economy-news.net/content.php?id=5992

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