IFC, National Bank of Iraq Partner to Boost Access to Finance for SMEs, Create Jobs

To support the growth of smaller businesses in Iraq and help them create jobs and overcome challenges, including from COVID-19-related disruptions, IFC announced an investment for the National Bank of Iraq (NBI) last week.

IFC's $10 million loan to NBI will allow the bank to increase lending to small businesses in Iraq across a range of sectors. IFC will also provide NBI with advisory services support to help it reach more small and medium enterprise (SMEs) clients and better serve them.