The Central Bank of Iraq announced measures to support cleaner energy use and environmental sustainability, including extending its renewable energy soft loan initiative to local brick factories and providing funding to an environmental fund. Under the initiative, brick plants will be eligible for soft loans to switch from polluting fuel (black oil) to cleaner fuel (liquefied gas) to reduce air pollution, with the loan ceiling increased to IQD 500 million per plant and channelled through licensed Iraqi banks. The Central Bank of Iraq also decided to support the Environmental Protection and Improvement Fund with IQD 1 billion to address air pollution and related environmental changes, in coordination with the Ministry of Environment.
Central Bank of Iraq 2025-03-02
Central Bank of Iraq expands renewable energy soft loans for brick factories with IQD 500 million cap and allocates IQD 1 billion to environmental fund
The Central Bank of Iraq is extending its renewable energy soft loan initiative to local brick factories, increasing the loan ceiling to IQD 500 million per plant to facilitate the switch from black oil to liquefied gas. Additionally, it will support the Environmental Protection and Improvement Fund with IQD 1 billion to combat air pollution, in coordination with the Ministry of Environment.