Al Tamweel Al Saree LLC (DFC-2016-ALTAMWEELALS)

Countries
  • Iraq
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Al Tamweel Al Saree LLC
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 87.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 87.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 117.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Aug 20, 2020


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Project Description

According to bank documents, Global Communities, a US not-for-profit corporation, operates the largest microfinance institution operating in Iraq which does business under the name Vitas Iraq. The OPIC loan to Al Tamweel Al Saree will enable Global Communities to expand Vitas Iraq’s portfolio of loans to individuals and to micro and small businesses, thereby expanding financial access in Iraq. This will support inclusive economic growth in Iraq that will hopefully lead to a more stable, secure, and sustainable way of life in that country.

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors
Contact Information

*Contact information not provided at the time of disclosure*