Tag Archives | SMEs

Iraqi Banks Increase Funding for SMEs

By John Lee. The Iraqi private banks association has announced an increase of half-a-trillion Iraqi dinars in funding to enhance the role of the private sector and the developmentof small and medium-sized enterprises (SMEs), and to increase job opportunities. According to the report from Shafaaq, this brings the funding available to 1.5 trillion Iraqi dinars […]

Interest-Free Business Loans for the Unemployed

By John Lee. The Iraqi Ministry of Labour and Social Affairs has reportedly earmarked 150 billion Iraqi dinars ($130 million) in this year's budget for loans to small and medium-sized businesses. Minister of Labour, Nassar al-Rubaie (pictured), told Al-Shorfa: "The interest-free loans, which were allocated for unemployed people, will be given to finance their small […]

US Promotes Growth Through Tijara Program

U.S. Ambassador to Iraq Stephen Beecroft (pictured) and USAID Deputy Mission Director David Harden celebrated on February 25 the completion of the U.S. Agency for International Development’s (USAID) five-year, $192 million Provincial Economic Growth Program-Tijara. Through partnership and joint cooperation with the Iraqi Ministry of Trade, project beneficiaries, and representatives from microfinance institutions, the Tijara […]

Private Bank SME Lending Tops $224m

More than $224 million has been injected into Iraq’s private sector economy in the form of Small & Medium Enterprise bank loans thanks to a cooperative effort between the USAID-Tijara Provincial Economic Growth Program and 12 private commercial banks. Of this amount, around $113 million presently is in circulation helping business owners expand their companies […]