By John Lee.
State-owned Rafidain Bank has launched the 59th round of its "Leadership and Excellence" initiative to support small and medium-sized enterprises (SMEs).
According to the bank, the new round allocates a total of IQD 1 billion (approximately $763,000) to 93 beneficiaries.
The programme forms part of the entrepreneurship financing initiative supported by the Central Bank of Iraq (CBI). Rafidain said the scheme aims to provide funding for entrepreneurs and young business owners.
The bank added that a total of 5,731 beneficiaries have received financing under the programme to date, with the cumulative value of loans reaching IQD 72.941 billion (approximately $55.7 million).
The initiative is intended to support entrepreneurial projects that contribute to economic development and strengthen the national economy.
(Source: Rafidain Bank)
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