MerchantBridge Iraq fund gains $50m in first tranche

MerchantBridge has raised around $50m in the first tranche of a five-year direct investment fund inv...

MerchantBridge has raised around $50m in the first tranche of a five-year direct investment fund investing in businesses manufacturing and supplying construction materials in Iraq. The Cayman-domiciled Iraq Construction Materials fund intends to target companies in sub-sectors where supplies have been limited or have been uneconomical to import. Four projects to be launched are ready mixed concrete, industrial paint and coatings, engineered steel structures and fabrication and plastic pipes. The International Finance Corporation, a member of the World Bank Group, will consider medium-ter...