The Central Bank of Iraq held a workshop on its initiative to finance the purchase of renewable energy systems, focusing on how loans are granted and the main obstacles to implementation. The bank called for simplifying loan procedures to broaden access for beneficiaries. The session brought together the Central Bank’s Accounting Department, the Electricity and Energy Committee of the Iraqi Council of Representatives, the Association of Iraqi Private Banks, participating banks, and Ministry of Electricity-licensed companies that sell renewable energy systems. The Central Bank also pointed to its wider set of initiatives aligned with government efforts to reduce carbon emissions, including the renewable energy initiative launched in 2021 and the extension of soft loans to local brick factories to shift from using “black points” to liquefied gas.
Central Bank of Iraq 2025-03-04
Central Bank of Iraq convenes workshop to streamline renewable energy system loan initiative
The Central Bank of Iraq conducted a workshop on its renewable energy financing initiative, emphasizing loan procedure simplification to enhance accessibility. The session included various stakeholders and highlighted broader initiatives to reduce carbon emissions, such as the 2021 renewable energy initiative and soft loans for local brick factories transitioning to liquefied gas.