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.