JPMorgan highlights 22-year partnership with Iraq, eyes infrastructure expansion

BAGHDAD, Iraq — JPMorgan's head of Global Corporate Banking, Masha Glukhovsky, said the bank has maintained a partnership with Iraq for 22 years, providing financing for roughly 20 projects alongside international credit guarantee institutions. Speaking in Washington, Glukhovsky said JPMorgan has supported Iraq's Trade Bank for Iraq and advised the government on credit rating matters. She identified infrastructure projects as one of the most prominent areas for investment in the coming period. Glukhovsky acknowledged that regional security and political conditions affect the investment climate and expressed hope for greater stability in the coming months. She noted that Iraq's reliance on oil poses a risk, adding that the government's steps to diversify the economy and strengthen the private sector are important for building a sustainable economy. JPMorgan's partnership with Iraq is expected to expand further, according to the remarks.