JP Morgan Branch to Open in Iraq

An agreement has been reached to open a branch of JP Morgan in Iraq to finance projects implemented by American companies. The deal was agreed during a meeting in Washington between Prime Minister Ali al-Zaidi and representatives of the bank.

Earlier this month, it was reported that KAR Electrical Power Plant Production Trading FZE (KEPPT) had engaged JP Morgan to arrange development financing for a US$1.6 billion urea plant in Basra.