Rafidain Bank has launched the 59th round of its “Leadership and Excellence” initiative to support small and medium-sized businesses in Iraq.
According to the bank, this new round will provide about 1 billion Iraqi dinars (around $763,000) in funding to 93 people.
The program is part of a broader entrepreneurship financing initiative backed by the Central Bank of Iraq. Its goal is to help entrepreneurs and young business owners get the money they need to start or grow their projects.
Rafidain Bank said that so far 5,731 people have benefited from the program. The total value of the loans given out has reached 72.941 billion dinars (about $55.7 million).
The bank says the initiative is designed to encourage new business projects, support entrepreneurs, and help strengthen Iraq’s economy.
