UK businesses to build over 350km of new critical drainage system in Iraq worth $286 million

The UK government has secured financing for the construction of a drainage network over 350km long which will bring clean water to tens of thousands of residents in the Al-Hillah district of Iraq, to the south of Baghdad.

The financing comprises a guarantee for £113 million in financing arranged by Standard Chartered Bank, as sole Structuring Bank, Mandated Lead Arranger and Agent, and a £113 million direct loan from His Majesty’s Treasury.

UK Export Finance – the government’s export credit agency – has ensured that the government…