Business Loans to Overcome the COVID-19 Crisis

NII is offering short term loans to local small businesses in the Nineveh governorate.

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NII GOAL

Contribute to the reconstruction and economic well-being of Iraq.

TARGET AUDIENCE

NII targets SMEs in Iraq that have the potential to create jobs.

APPLYING THE GROFIN SOLUTION

Apply appropriate risk finance and business support to develop sustainable and high impact SMEs.

Northern Iraq is no longer under the control of ISIS, but the region is still struggling to recover from the effects of the militant group’s occupation. The occupation and subsequent military action to bring it to an end, saw thousands of Iraqis killed and displaced. This did not only carry a high humanitarian cost, it also destroyed infrastructure and businesses to severely cripple the economy.

This has created an urgent need to restore business activities across all sectors in the region in order to create much-needed employment.

GroFin, under the Middle East North Africa Investment Initiative (IRAQ MENA II), has launched the Northern Iraq Investments (NII) to provide finance and technical assistance to small and medium-sized businesses that have the potential to create jobs.

NII aims to support local Iraqi entrepreneurs in rebuilding the region’s SME sector. Its purpose is to help grow and develop sustainable small businesses to stimulate economic growth, foster stability and create sustainable livelihoods for the people of Iraq.

Managed by

GroFin is a pioneering private development finance institution specialised in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East by combining medium-term loan capital and value-adding business support.

Our investments in small and growing businesses bring about inclusive economic growth and improved living conditions in the low and middle-income countries where we operate.

As a trusted partner for more than 30 international development finance institutions, development organisations and other private funders, we have raised cumulative funds worth US$ 500M towards the ten funds and programmes we manage.

Our Team
of experts

The NII team, consisting of GroFin’s staff, has over 78 years of combined experience in finance and the specialised support of small and growing businesses.

GroFin offers both centralised expertise and on-the-ground support to SMEs in Iraq.

  • Ashraf Esmael

    Chief Investment Officer -Middle East

  • Raed Adnan

    Investment Executive

  • Hawrre Meerani

    Investment Manager

  • Mohammed Alsoufi

    Investment Manager