By John Lee.
A $25 million trade finance facility has been extended to Bank of Baghdad, one of Iraq's leading private-sector banks, under the European Bank for Reconstruction and Development (EBRD)'s Trade Facilitation Programme (TFP).
According to the EBRD, the facility will support Bank of Baghdad in increasing its import and export transactions, expanding its correspondent banking network, and improving access to trade finance for micro, small and medium-sized enterprises (MSMEs) engaged in cross-border trade.
EBRD-funded technical cooperation will provide advisory support, specialised training, participation in the EBRD Trade Finance e-Learning Programme, and workshops on key trade finance topics.
The European Union (EU) will separately finance the development of a dedicated training curriculum for Bank of Baghdad covering core and advanced banking competencies, and a module on expanding access to financial services for underserved groups, including women.
Bank of Baghdad is one of the top three private banks in Iraq, with total assets of $2.2 billion at end-2025 and a network of 35 branches. It is listed on the Iraq Stock Exchange and is majority owned by Jordan Kuwait Bank, a subsidiary of KIPCO [Kuwait Investment Projects Company].
The EBRD began operations in Iraq in September 2025. The EU is described as the largest provider of official development cooperation to Iraq.
(Source: European Bank for Reconstruction and Development)
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