By John Lee.
The Central Bank of Iraq (CBI) has so far issued loans worth IQD 6 billion (approximately USD 4.6 million) to support the purchase of solar energy systems, while expecting demand to increase during 2026.
Speaking to the state-run Iraqi News Agency (INA), Rafel Hussein, Director of Initiatives at the CBI, said the Bank has allocated IQD 6 trillion [USD 4.6 billion] to commercial banks to finance loans for the purchase of solar power systems, but that lending to date has reached only around IQD 6 billion.
She attributed the limited uptake to low public awareness and weak societal understanding of clean energy, stressing the need to work on multiple fronts to improve awareness of the importance of transitioning to alternative energy sources.
Hussein added that Iraq is committed to shifting towards clean energy in line with the Paris climate commitments for the 2020-2030 period, noting that the Central Bank amended certain regulations in mid-2025 to make it easier for banks to provide the loans.
She confirmed that financing for solar panel purchases remains available until the full allocation is exhausted, and said higher demand is expected during 2026.
(Source: INA)
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