4 days ago
Germany Supporting Iraq's Lending Strategy for SMEs
By John Lee.
Under the patronage of Central Bank Governor Ali Mohsen Al-Allaq, a workshop has been launched to support the implementation of the bank's new strategy to increase private sector lending, with a focus on small and medium-sized enterprises (SMEs).
In his opening remarks, Governor Al-Allaq emphasised the bank's commitment to addressing challenges in private sector lending through enhanced coordination with relevant institutions. He highlighted the importance of setting a unified classification system for SMEs and called for the establishment of dedicated administrative structures within government bodies to support these businesses.
He also expressed gratitude to the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) for its contributions to the development of the strategy.
The Central Bank of Iraq launched the National Strategy for Bank Lending in Iraq (2024-2029) in May 2024, developed in collaboration with GIZ to boost credit activity and drive sustainable economic growth.
(Source: Central Bank of Iraq) Tags: banking, Central Bank of Iraq (CBI), cg, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), featured, germany, Loans, MSMEs, National Strategy for Bank Lending for 2024-2029, private sector, SMEs
