The European Bank for Reconstruction and Development (EBRD) has approved a $25 million trade finance facility for Bank of Baghdad, one of Iraq’s leading private banks. The funding is being provided through the EBRD’s Trade Facilitation Programme (TFP) and is designed to strengthen the bank’s ability to support international trade.
The facility will help Bank of Baghdad expand its import and export financing activities, strengthen relationships with correspondent banks, and improve access to trade finance for micro, small, and medium-sized enterprises involved in cross-border business.
In addition to the financing, the EBRD will provide technical assistance that includes advisory services, specialized training programs, access to its Trade Finance e-Learning Programme, and workshops covering important trade finance topics.
Separately, the European Union will fund the development of a dedicated training curriculum for the bank. The program will focus on both basic and advanced banking skills, while also promoting greater access to financial services for underserved groups, including women.
Bank of Baghdad is among Iraq’s top three private banks, with total assets of approximately $2.2 billion at the end of 2025 and a network of 35 branches across the country. The bank is listed on the Iraq Stock Exchange and is majority owned by Jordan Kuwait Bank, a subsidiary of Kuwait Investment Projects Company (KIPCO).
The EBRD began operating in Iraq in September 2025, while the European Union remains one of the country’s largest providers of development assistance.
