Commerzbank coordinates €112 million loan for Iraqi float glass plant project

Commerzbank acted as Coordinating Mandated Lead Arranger for a €112 million Euler Hermes covered loan arranged with AKA Bank.
The loan supports engineering, construction, and equipment delivery from Horn Glass Industries, Germany, to AlRida Investment Ltd., Iraq, for a new float glass plant.
This financing is the first transaction under the German-Iraqi Memorandum of Cooperation for the Iraqi Private Sector Initiative.
The initiative aims to strengthen Iraq’s private sector using German technology, reduce oil dependency, promote economic diversification, and empower SMEs.