announced the International Finance Corporation, a member of the World Bank Group, for providing a loan of $ 12 million and arranged for another $ 8 million from Proparco Foundation, one of the French Agency for Development branches, so as to help Al-Ahram General Trading Co., a water bottling in Iraq Companies and to help them promote their production of bottled water which will contribute to the Iraqi private sector development and the promotion of non-oil sectors in the country.
The organization said in a statement, that this long-term loan will help Ahram company to develop existing their manufacturers in the towns of Zakho and Sulaymaniyah Kurdistan Region of Iraq, and the expansion by adding a new line for the production of bottled water which will contribute to increase production and provide job security for the company's employees and suppliers.
He pointed Abdul Sergeant Warden, Executive Board member firm Al-Ahram that "this investment will help us to grow our business and provide more high-quality products to our customers as well as training our staff in accordance with standards International. We look forward to a long-term partnership with the International Finance Corporation and the institution Proparco as we move ahead with our expansion plans. "
This will allow the loan to the company Ahram import the latest treatment and water bottling equipment, which will contribute to the transfer of technological expertise and improve the quality of beverage products in the Iraqi market to produce according the standards of the global food safety.
He said pro Makhlouf, Regional Director of IFC in the Middle East and North Africa that investment in Al-Ahram company is part of the strategy of the organization in Iraq, which aims to encourage those in charge of non-oil industries and support private sector development and job creation, noting he hoped to lead the organization's commitment to this project to encourage international and domestic institutional investors to invest in Iraq.
plans to IFC promote investment and advisory efforts in Iraq to invest between 100 to 130 million dollars a year over the next few years in priority sectors such as infrastructure and the financial sector. Julian Afleur, chief investment in industry, agriculture and services sectors institution Proparco and said that "the institution is pleased to provide support to Al-Ahram company because of its key role in the provision of water to the Iraqi people at affordable prices." He added that "This funding will not only be limited to production support, but would also provide hundreds of additional jobs. And that the private sector plays a crucial role in achieving economic development and stability."
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