The Iraq Development Fund has partnered with the German Agency for International Cooperation (GIZ) in a strategic move to accelerate youth empowerment and foster sustainable growth within Iraq’s burgeoning green and digital economies. The Memorandum of Understanding (MoU), signed in Baghdad on October 13, 2025, is set to strengthen the nation’s private sector, stimulate job creation, and drive inclusive economic development for a new generation of innovators.
A Qualitative Leap for Iraq’s Economy
Mohammed Al-Najjar, Executive Director of the Iraq Development Fund, hailed the partnership as a “qualitative leap” for the country’s economic landscape. He emphasized GIZ’s significant and long-standing contributions to Iraq, noting that the German agency has invested nearly $1 billion in the nation’s economic and human development since 2014. According to Al-Najjar, this new collaboration will integrate crucial financing into empowerment programs, directly supporting the government’s vision for a sustainable, innovation-driven economy.
A Four-Pillar Strategy for Growth
The initiative is built upon four key pillars designed to create a robust and supportive ecosystem for Iraqi entrepreneurs. The strategy will focus on strengthening micro, small, and medium-sized enterprises (MSMEs) to boost entrepreneurship, building capacity through targeted training and mentorship, improving access to finance for young innovators, and developing policy frameworks that support long-term sustainable growth. This comprehensive approach aims to address critical gaps in the current ecosystem and unlock the potential of local talent.
International Collaboration and Funding
Funded by Germany’s Federal Ministry for Economic Cooperation and Development (BMZ), the initiative leverages international expertise and resources to maximize its impact. Jörn Broihans, a representative for GIZ, highlighted that the project is focused on expanding employment opportunities specifically within the high-growth digital and green sectors.
He also revealed that discussions are underway with the European Union to secure additional funding, which would help scale the program’s reach and impact across Iraq. Broihans described the partnership as an exemplary model of combining international expertise with national institutions to deliver tangible results for Iraqi youth.
About Iraq Development Fund
The Iraq Development Fund is a sovereign development institution established to support and diversify Iraq’s economy. It aims to empower the private sector by providing financing, fostering innovation, and driving sustainable projects that contribute to job creation and long-term economic resilience. The fund plays a pivotal role in advancing Iraq’s national development goals, with a focus on building a modern, inclusive, and globally competitive economy.
Source: meatechwatch
