The European Bank for Reconstruction and Development (EBRD) has officially launched its SME finance and development programmes in Iraq, a significant move aimed at strengthening the country’s private sector. The launch includes the rollout of its flagship Star Venture initiative, specifically designed to support high-potential startups.
An official event in Baghdad marked the programme’s commencement, bringing together representatives from the Iraqi government, financial institutions, business associations, and private sector leaders to discuss strategic priorities and planned projects.
A Multifaceted Approach to SME Growth
The EBRD’s initiative will provide Iraqi enterprises with a comprehensive support system. This includes a mix of advisory services to build business capabilities, improved access to finance, and strategic engagement with the wider business ecosystem.
By focusing on individual firms as well as the broader policy environment, the EBRD aims to create the necessary conditions for SMEs to thrive, innovate, and become more competitive on a national and international scale, ultimately fostering job creation across the country.
Spotlight on High-Potential Startups
A key component of the launch is the introduction of the Star Venture programme. The EBRD has officially opened the first call for applications, inviting ambitious, tech-enabled Iraqi startups to apply through a competitive selection process.
Selected startups will gain access to tailored business advice, international expertise, and extensive networks of investors and mentors. The goal is to support their growth and help them scale into regional and global markets.
A Commitment to the Iraqi Private Sector
The launch event served as a platform to advance shared goals for SME development and address key constraints facing businesses, such as access to technology, new markets, and international best practices.
Catarina Bjorlin Hansen, EBRD Head of Iraq, commented on the milestone:
“Today marks an important milestone in our partnership with Iraq. We see enormous potential in the country’s private sector, which is central to building sustainable growth and creating opportunities for the next generation. We are committed to working with our partners to strengthen the conditions for their growth and success. By launching our SME finance and development programmes and opening the first local call for Star Venture, we are backing ambitious Iraqi entrepreneurs, helping them scale their businesses, hire more people and increase their international competitiveness.”
About The European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) is a multilateral development bank that supports the development of the private sector and entrepreneurial initiatives. Through an integrated approach combining finance, advisory support, and policy engagement, the Bank works to build resilient enterprises and sustainable local markets. The EBRD began its operations in Iraq in September 2025, focusing on private-sector development to improve access to finance and foster long-term economic growth.
Source: Iraq Business News
