- The EBRD launches its first funding in Iraq
- US$ 100 million commerce finance prolonged to Nationwide Financial institution of Iraq
- Financing to spice up commerce finance entry for MSMEs and strengthen integration with worldwide markets
The European Financial institution for Reconstruction and Growth (EBRD) has launched its first funding in Iraq, offering a US$ 100 million commerce finance facility to the Nationwide Financial institution of Iraq (NBI), the nation’s largest non-public financial institution.
This new commerce finance restrict will contribute to boosting the nation’s import and export actions. It is going to assist the NBI’s commerce finance operations by issuing ensures to confirming banks and providing money advances for imports, exports and the native distribution of products beneath the EBRD’s Commerce Facilitation Programme (TFP).
The ability may also promote larger commerce integration in Iraq by extending ensures and credit score traces to mitigate political and business fee dangers related to worldwide transactions undertaken by accomplice banks within the economies the place the EBRD works.
The funding will enhance entry to finance for micro, small and medium-sized enterprises (MSMEs) and facilitate intra-regional commerce. It is going to additionally assist the NBI diversify its correspondent banking relationships and strengthen commerce finance hyperlinks with different EBRD international locations of operation.
EBRD Head of Iraq, Catarina Bjorlin Hansen, mentioned: “We’re proud to signal our first funding in Iraq and to accomplice with the Nationwide Financial institution of Iraq. This facility represents a significant milestone in supporting the nation’s economic system by increasing entry to commerce finance, fostering integration with worldwide markets and strengthening the resilience of native companies. We sit up for enjoying a key position in constructing strong monetary establishments and selling sustainable financial development in Iraq.”
Ayman Abu Dhaim, CEO of the Nationwide Financial institution of Iraq, mentioned: “This partnership with the EBRD marks a pivotal milestone in NBI’s development journey and in Iraq’s broader monetary panorama. By means of this facility, we purpose to strengthen the circulate of commerce, empower Iraqi companies, particularly MSMEs, and open new channels that join Iraq to international markets with larger confidence and stability. It displays our continued dedication to driving financial growth and supporting Iraq’s integration into the regional and worldwide economic system.”
The EBRD TFP was launched in 1999 with the purpose of selling worldwide commerce between the economies within the Financial institution’s areas, within the type of ensures and short-term loans to chose collaborating banks and factoring corporations.
The NBI is the most important non-public financial institution in Iraq and a common financial institution with actions in retail, SME and company banking, commerce finance, and treasury providers. Established in 1995, it’s majority-owned by the Capital Financial institution of Jordan, an EBRD shopper since 2015.
The EBRD started operations in Iraq in September 2025, specializing in the non-public sector to unlock entry to finance, promote native companies and foster sustainable, long-term development, contributing to the transformation of the nation’s economic system.
Leave a Reply