UK Approves $117M to Finance Iraqi Power Plants

UK Approves $117M to Finance Iraqi Power Plants

UK Export Finance, a British agency tasked to promote British exports, will provide $117 million in financing to General Electric and Enka UK for the construction of two gas-powered electricity plants in Iraq, Reuters reports.

A statement from the British government specified that the financing would go toward the construction of two 750-magawatt plants in southern Iraq, according to Reuters.

The funds will only finance British-led projects, The New York Times reports, and are part of a ten-year, 10 billion-pound commitment by the British government to support infrastructure projects in Iraq.


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