The National Strategy for Bank Lending (2024–2029) in Iraq

December 9, 2024

Department of Planning and Policies

The National Strategy for Bank Lending (2024) was issued by the Central Bank of Iraq under the title “Supporting Economic Projects in Iraq,” with the aim of supporting the private sector in Iraq by facilitating access to credit. This is due to the role of the private sector in reducing pressure on the government’s employment apparatus by providing job opportunities, reducing poverty, supporting entrepreneurial projects, and generally facilitating people’s lives. The National Strategy for Bank Lending in Iraq consists of six sections, which include: (1) the vision and general framework for private sector development in Iraq, (2) building on the foundations of best practices and international principles, (3) analysis of the current situation of private sector financing in Iraq, (4) extraction of existing constraints and available opportunities for bank credit in Iraq, (5) strategic objectives and measures, and (6) governance and coordination. The strategy stipulates that its approach is based on effective planned targeting by identifying the main objectives for economic development, assessing the current situation of private sector financing, taking into account government policies in this field and international best practices, to develop specific policies and programs for sectoral development and to identify strategic axes for creating an enabling environment for the work of financial institutions within the general direction of the government.