IBBC hosted leading development institutions in Iraq, including UKEF, EBRD and IFC, to offer members insights into latest investment practice and expectations in Iraq.

UK’s Joseph Chakra, Regional Head for Business Origination & client coverage – Middle East, UK Export Finance, explained how the UK is underwriting up to £2bn in investment guarantees to British exporters in both services and manufacturing, provided the projects meet Government of Iraq priorities. He quoted examples of fire engine purchase support to £60m and £100m in water projects. Katya Lehair, Associate Director for Financial Institutions (Jordan, Lebanon, Iraq, West Bank & Gaza), EBRD, explained as a new entrant to the Iraqi market their process of lending to trusted intermediary banks, to further lend on to the SME sector in Iraq, which includes businesses up to E43m turnover. They are taking it stage by stage, and focused on supporting trade in the first instance, but intend to expand lending more widely as trust and confidence grows in the country. Julie Aurelia Carles, Principal Investment Officer, Infrastructure Lebanon, Syria, Iraq and Jordan, IFC are focused on lending to private sponsor in sectors including infrastructure, renewable energy, and tech sector assistance, transport and ports. IFC provide advisory services to lenders and the government and are keen to see more and international standards compliant banks. Julie also outlined the insurance aspect of loans, working with MIGA and partners to enable investment and securing assets.

Members including Edward Oakden of IDB and Hoz Khaznadar of IBBC Advisory Council asked questions about lending to oil and gas companies, and there was a strong sense that decarbonisation and renewables is the way forward for lending.

IBBC are hosting a series of sector panels for members in place of the postponed Mansion House conference for June 9th, due to the Iran conflict. The next sessions include Tech on 4th June, Education on 22nd June and a force majeure webinar on 24th June.

IBBC will return to Iraq for a major conference in the Autumn to engage with the new governments, and back to the mansion house in April 2027.