Article source
Reuters
Article date
Wed, Apr 27, 2016
International Finance Corporation (IFC), the World Bank's private sector investment arm, said on Thursday it had arranged $375 million in financing for an Iraqi power company to provide electricity to millions of people in Kurdistan and Baghdad.
The company, Mass Global Energy Sulimaniya, will use the funds to add 500 megawatts of capacity to a 1,000-megawatt power plant in Kurdistan, providing power to 3 million people. It will also help complete a new power plant near Baghdad that will supply about half of the Iraqi capital's electricity requirements.
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