From the United Nations Office for Disaster Risk Reduction (UNDRR). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Strengthening SME resilience in Iraq: Building risk-informed, inclusive and resilient enterprises for sustainable recovery and local economic development Background Small and medium-sized enterprises (SMEs) are central […]
By John Lee. Iraq's Small Business Support Fund has held a board meeting to review procedures for issuing loans and improve support for small business owners. The meeting took place at the premises of the Department of Labour and Vocational Training, which falls under the Ministry of Labour and Social Affairs. According to the Ministry […]
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 […]
By John Lee. Iraq's Ministry of Planning has held a virtual meeting with the International Labour Organization (ILO) to discuss organising a workshop on building inclusive and risk-informed small and medium-sized enterprises (SMEs) in Iraq, as part of efforts to support sustainable recovery and local economic development. According to the Ministry of Planning, the workshop […]
By John Lee. A $75 million trade finance facility has been agreed between the European Bank for Reconstruction and Development (EBRD) and Al Mansour Bank for Investment (MBI), one of Iraq's leading private-sector banks. The facility is provided under the EBRD's Trade Facilitation Programme (TFP) and will offer guarantees and cash advances to support MBI's […]
By John Lee. The Kurdistan Regional Government (KRG) has launched the second phase of the Gashanawa [Shine] Project, which will provide financial support of between IQD 1 million ($763) and IQD 150 million ($114,500) to 100 small and medium-sized enterprises in the agricultural and industrial sectors. According to the KRG's Department of Media and Information, […]
By John Lee. The Central Bank of Iraq (CBI) has announced enhancements to two of its developmental lending initiatives, raising the financing ceiling for small and medium enterprises (SMEs) and expanding support for renewable energy projects. According to the CBI, the measures are aligned with the National Banking Lending Strategy (2024-2029) and are intended to […]
By John Lee. Iraq's Ministry of Planning has held a meeting with representatives of the World Bank to discuss cooperation on supporting entrepreneurship, empowering small and medium-sized enterprises (SMEs), and creating a more efficient and attractive business environment for investment. According to a statement from the Ministry, Sunday's meeting discussed a proposed programme aimed at […]
By John Lee. Al Qaf Company has won a contract with the International Labour Organization (ILO) for: "Enhancing the Business Capacity of MSMEs through Non-Financial Services under the ILO PROSPECTS Project - Ninewa Phase II." Ref: rfx_4705_HQ. The contract value was not disclosed. According to ILO: "The International Labour Organization (ILO) is seeking qualified Business […]
By John Lee. Iraq's Ministry of Trade has highlighted plans to support the development of youth-led initiatives into viable economic projects during the first Creative Economy Conference workshop. Trade Minister Atheer Dawood Al-Ghurairi said the ministry is working to adopt and support innovative initiatives that help transform entrepreneurial ideas into practical, market-ready businesses. The conference, […]
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 […]
By John Lee. State-owned Rafidain Bank has announced the launch of the 50th tranche of its Riyada wa Tamayuz (Entrepreneurship and Excellence) initiative to support small and medium-sized enterprises. The tranche totals IQD 1 billion (approximately USD 0.77 million) and will benefit 82 recipients. According to a statement from the bank's media office, the funding is […]
