IFC, FMO and Proparco are supporting Sama Al-Manar, a subsidiary of Türkiye-based Tiryaki Agro, in developing a new state-of-the-art agro-industrial complex in Iraq's Umm Qasr Port, including a soybean crushing plant and warehouses, which will help bolster food security, create jobs, and diversify the country’s economy away from fossil fuels.

Proparco has just granted a trade finance guarantee for $10 million to National Bank of Iraq (NBI). This project is the first collaboration between Proparco and NBI and will support local importers in a country severely affected by the lack of financial investors.

The USD 3.95 million portfolio guarantee granted by Proparco marks its first operation with the microfinance sector in Iraq. It testifies to its commitment to supporting the private sector in fragile countries and further reinforces its partnership with Vitas Group, a leading microfinance actor in the MENA region.

Proparco grants a $33 million loan to Terminal Link for the renovation of a port infrastructure in Iraq. The project involves the rehabilitation and extension of a container terminal at the port of Umm Qasr, in southern Iraq, operating under concession by Terminal Link via its dedicated subsidiary, CCTI.