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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.
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