Iraqi Bank Releases New Funding for Entrepreneurs

Iraq's state-owned Rafidain Bank has announced the release of the tenth tranche of its "Entrepreneurship and Excellence" initiative, financing 80 projects with 1 billion Iraqi dinars (~US$765,000) each. This brings the total number of projects funded since the programme's launch to 1,735, with cumulative financing of 22.94 billion dinars (~US$17.5 million).

The initiative, launched under the auspices of the Prime Minister's Office and recently joined by the Central Bank of Iraq (CBI), is designed to support entrepreneurship and small-to-medium sized enterprises.

Dr. Ali Karim Hussein Al-Fatlawi, Director General of Rafidain Bank, confirmed the bank's commitment to ensuring timely access to funding, stressing that the initiative is a cornerstone for fostering innovation and entrepreneurial spirit among young people, while contributing to national economic growth.

He also noted that the Entrepreneurship Directorate at the Prime Minister's Office directly follows up on funded projects, providing technical and logistical support to ensure their sustainability and achievement of development goals.