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HSBC Iraq unit looks to infrastructure

18 August 2010

James Hogan, chief executive of HSBC's Iraqi subsidiary has said the lender is eyeing opportunities in funding infrastructure projects as the country is being rebuilt, while it gradually opens more branches, Reuters has reported. "Once we have a new government in place, they will likely focus on the budget for next year, and we will see capital spending largely being driven by new infrastructure such as road projects, the need for cement, and building a telecommunications infrastructure," Hogan said.

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