Originally published in Financier World Magazine - September 2012.
New project financing opportunities are opening up throughout Iraq. As the country’s economy recovers from decades of war, demand is growing for new infrastructure. Because internal public funds are limited, the Iraqi government has taken a number of steps in recent years to attract international capital in sectors like housing, hospitals, power plants, transportation, telecommunications and manufacturing. As a result, construction projects are underway in Baghdad and other urban centers and rural communities.
But should a prudent foreign investor consider financing such projects? Certainly, an investor needs to weigh the risks, as well as the opportunities. From a security standpoint, many areas of Iraq, particularly in the northern region of Kurdistan, offer a relatively safe environment with reduced political risk.
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