As part of a significant national effort to foster economic diversification and empower the next generation, Iraq’s Rafidain Bank is continuing its large-scale financing initiative for young entrepreneurs under the Riyada 2025 program. The state-owned bank is providing crucial capital to help youth launch their own ventures, steering them away from traditional employment paths and towards innovation and self-reliance.
This latest wave of funding reinforces a sustained commitment to stimulating Iraq’s startup ecosystem and addressing unemployment.
A Catalyst for Economic Growth
Rafidain Bank announced that this new funding tranche is an extension of a successful ongoing series of disbursements. To date, the initiative has financed more than 3,069 individual projects across various Iraqi governorates, with the total funding exceeding 39 billion Iraqi dinars.
The program aims to cultivate a culture of entrepreneurship and self-sufficiency among the nation’s youth. By offering accessible financing with flexible terms, the bank is enabling aspiring founders to transform their ideas into operational businesses, thereby stimulating local economies and creating new job opportunities.
Impact on the National Economy
The initiative has already demonstrated a tangible impact on the Iraqi economy by generating employment and activating key productive sectors, including industry, agriculture, and services. The influx of capital into small and medium-sized enterprises (SMEs) is considered a cornerstone of the country’s economic growth strategy.
By supporting these ventures, the program contributes directly to building a more resilient and diverse economy that leverages the innovative potential of its human capital. This aligns with the government’s broader vision of creating a sustainable economic model driven by production and local innovation.
Rafidain Bank’s Strategic Vision
Rafidain Bank has emphasized that its continued support for youth-led projects is part of a long-term strategic plan for comprehensive economic development. The bank views the partnership between financial institutions and entrepreneurs as fundamental to building a robust Iraqi economy capable of sustainable growth.
This vision positions the bank not just as a financial entity but as a key partner in national development, committed to empowering the country’s most valuable resource: its creative and ambitious youth.
About Rafidain Bank
Established in 1941, Rafidain Bank is one of the largest banks in Iraq. As a state-owned commercial bank, it plays a pivotal role in the country’s financial landscape, offering a wide range of banking services to individuals and corporations. The bank is actively involved in national development initiatives aimed at promoting economic growth and stability.
Source: 5lej News
