Iraq's Rafidain Bank Announces New Funding for SMEs

State-owned Rafidain Bank has announced the launch of the 50th tranche of its Riyada wa Tamayuz (Entrepreneurship and Excellence) initiative to support small and medium-sized enterprises. The tranche totals IQD 1 billion (~US$770,000) and will benefit 82 recipients.

According to a statement from the bank's media office, the funding is part of ongoing efforts to finance entrepreneurs and young people under the Central Bank of Iraq (CBI)'s initiative. To date, the programme has financed 4,976 beneficiaries, with total disbursements reaching IQD 64 billion (~US$49.2 million).

The bank said this reflects its commitment to supporting entrepreneurial projects that contribute to building the national economy.