Financial inclusion for economic restart and integration
The Financial Inclusion for Economic Recovery and Integration in Iraq project focuses on developing and adapting inclusive financial services to support a range of financial service providers (FSPs). The initiative aims to build the capacity of these providers to create and expand financial products tailored to women, youth, the poor, internally displaced persons (IDPs), refugees, returnees, and micro, small and medium enterprises (MSMEs). The project aligns with Iraqs Vision 2030 and the Central Bank of Iraqs (CBI) commitment to promoting financial inclusion.
Given Iraqs underbanked status and structural challenges in the financial sector, the project seeks to address issues such as limited financing options, low financial literacy, and a general mistrust of the banking system. By leveraging a diversified provider and distribution base, the project aims to introduce sustainable, self-sustaining financial products that will continue to evolve with the support of project partners.
The success of the project depends on building the necessary skills and competencies of the FSPs, fostering ownership of the proposed interventions, and securing stakeholder commitment. Ultimately, this will contribute to the sustainable development of the financial sector and enhance economic opportunities for Iraqs most vulnerable populations.
