ICBG News
15 February
Dow Jones Newswires Interviews ICBG Chairman on $16.5M in LoansMay 2009
NOTEJune 2007
ICBG News UpdateOctober 2006
ICBG Launch Set For Late OctoberSeptember 2006
ICBG Website OpensPortal Iraq News
Employment found in cleaning Iraqi city Iraq's Education Management Information System develops USAID helps track price fluctuations in Baghdad's wholesale markets Iron, folic acid supplements delivered to Baghdad Iraq MoCH needs computer network for Technology Transfer Center USACE awards Versar $40.6 million contract for Iraq reconstruction effort Iraqi leaders discuss security, economy at first-ever Northern Governors' Conference Construction of Iraqi border forts progressesIraq Updates - Economy
3 September
Federal Appeals Court Discharges Former Iraqi Trade Minister Government Unlikely to Pay Salaries Before Eid al-Fitr Zamily Calls Parliament to Enact Laws to Boost Iraq Economy New Wheat and Rice Bids to Provide Iraq Market Needs ISX Caps Week with Slight 0.04% Down2 September
U.S. Touts Iraq Trade Mission As War Mission Wanes Jordan's Industry and Trade Minister Leads Commercial Delegation to Kurdistan Kurds Want Jordanian Businesses to Invest More in Kurdistan
The Iraqi Company for Bank Guarantees Ltd. (“ICBG”) has been established in order to assist small and medium size enterprises in Iraq gain access to loan finance from Iraqi banks, and to assist banks using the guarantees to develop credible loan administration and risk management systems.
ICBG is privately owned by 11 Iraqi banks and its development has been supported by the Central Bank of Iraq in recognition of the important role such a company plays in deepening the local capital market.
The amount of the ICBG loan guarantees will vary with the risks that are ascertained, on a loan by loan basis. The guarantee will be up to 75% of the loan amount.
The operations of the ICBG will also focus on institutional development and capacity building in the banks as well as its own organization, while marketing and implementing the guarantee program. The Company’s outreach will be extended throughout the whole of Iraq through the participating bank network; such out reach will allow access to credit to small and medium enterprises in all governorates of Iraq.
ICBG will work with the banks and other stakeholders to identify economically viable lending opportunities to proactively assist SME development.
