Baghdad: The Iraqi Private Banks League, in cooperation with the Central Bank of Iraq and the German Agency for International Cooperation (GIZ), has launched the ‘Access to Finance Guide in Iraq’ to support entrepreneurs, small and medium enterprises, and expand financing opportunities for the private sector.

According to National Iraqi News Agency, Ali Tariq, Executive Director of the League, emphasized during the launch ceremony in Baghdad that access to finance is a significant challenge for young people and the private sector. He noted that many innovative ideas and promising projects fail due to a lack of clear information on available funding sources, mechanisms, and requirements.

Tariq explained that the new guide will act as a practical and simplified reference that consolidates various financial tools and options available to investors, entrepreneurs, and start-ups. The development of the guide is a result of the collaboration between the League, the Central Bank of Iraq, and GIZ, aiming to promote financial inclusion and empower the private sector, which is seen as a crucial element of economic reform.

He further stated that Iraq is at a pivotal point, with the state increasingly focusing on strengthening the private sector’s role in diversifying income sources and building the national economy. The guide is envisioned as a practical tool to assist thousands of young men and women in identifying available financing options, whether through banks, financing companies, or government and international support programs.

Tariq reiterated the League’s commitment to collaborating with its partners to remove obstacles, simplify procedures, and improve the business environment. The launch of the guide is intended as a message of hope to Iraqi youth, highlighting that opportunities exist, support is available, and success is achievable with determination and proper planning.