European Bank: Proud to sign first investment agreement in Iraq
European Bank: Proud to sign first investment agreement in Iraq
12-16-2025
Baghdad-Mail
The National Bank of Iraq, the country’s largest private bank, announced that it has secured $100 million in trade finance from the European Bank for Reconstruction and Development, which expressed its “pride” in signing its first investment agreement in Iraq, in partnership with the National Bank of Iraq, stressing that this facility is an important achievement in supporting the country’s economy by expanding trade finance and enhancing integration with international markets.
The bank said in a statement that “this facility supports import and export activities in Iraq, and enhances trade finance operations for the National Bank of Iraq by issuing guarantees to confirmed banks, and providing advance payments for import, export and local distribution of goods within the European Bank for Reconstruction and Development’s Trade Facilitation Program.”
He added that the financing “will contribute to strengthening trade integration in Iraq, by providing guarantees and lines of credit to mitigate the political and commercial payment risks associated with international transactions carried out by partner banks in the economies in which the European Bank operates.”
He explained that “this investment will also contribute to improving access to finance for micro, small and medium enterprises, facilitating regional trade, in addition to helping the National Bank of Iraq diversify its correspondent banking base and strengthen trade finance links with other countries where the European Bank operates.”
“We are proud to sign our first investment agreement in Iraq, in partnership with the National Bank of Iraq,” said Katarina Björlin Hansen, Head of the EBRD office in Iraq. “This facility is an important milestone in supporting the country’s economy by expanding trade finance, enhancing integration with international markets, and supporting the resilience of local businesses. We look forward to playing a pivotal role in building strong financial institutions and supporting sustainable economic growth in Iraq.”
For his part, Ayman Abu Dhaim, Managing Director of the National Bank of Iraq, stated, “This partnership with the European Bank for Reconstruction and Development represents a milestone in the growth of the National Bank of Iraq on the one hand, and the Iraqi financial landscape on the other. Through this facility, we seek to improve trade, empower Iraqi companies, especially micro, small and medium enterprises, and open new channels that connect Iraq to global markets with greater stability and reliability. This partnership reflects our continued commitment to driving economic development and supporting Iraq’s integration with the regional and international economy.”
It is worth noting that the European Bank for Reconstruction and Development launched its Trade Finance Programme in 1999 with the aim of promoting international trade between the economies of the regions in which it operates, by providing guarantees and short-term loans to selected participating banks and finance companies.
The National Bank of Iraq is the largest private bank in Iraq. It is a full-service bank offering banking services to individuals, small and medium-sized enterprises (SMEs), and large corporations, in addition to trade finance and treasury services. Founded in 1995, the bank is majority-owned by Capital Bank (Jordan) and has been a client of the European Bank for Reconstruction and Development (EBRD) since 2015.
The European Bank for Reconstruction and Development (EBRD) began its operations in Iraq in September 2025, focusing on the private sector to facilitate its access to finance, support local businesses, and promote long-term sustainable growth, thereby contributing to the transformation of the country’s economy.
miliq.news
