The European Bank for Reconstruction and Development (EBRD) is extending its support for small and medium-sized enterprises in Iraq with the local launch of its SME finance and development programmes, including the flagship Star Venture initiative for high-potential startups, the bank said in a statement. An official launch event in Baghdad marked the programmes’ rollout and presented the EBRD’s objectives and strategic priorities in Iraq, highlighting planned and potential projects to develop the SME sector.
In Iraq, the EBRD will support local enterprises through a mix of advisory services, access to finance, and engagement with the business ecosystem, all aimed at enhancing their capabilities and enabling expansion into new markets. By focusing not only on individual firms but also on the broader business ecosystem and policy environment, the EBRD aims to create the conditions for SMEs to thrive, become more competitive, foster innovation, and support job creation across the country.
The EBRD also officially launched the first call for startup applications under its Star Venture programme, inviting high-potential and tech-enabled startups to apply through a competitive selection process. Selected startups will gain access to tailored business advice, international expertise, and networks of investors and mentors, supporting their growth and enabling them to scale into regional and global markets.
The event brought together representatives from the government of Iraq, the donor community, financial institutions, business associations, and private sector leaders, serving as a platform for advancing shared goals for SME development and strengthening the competitiveness of Iraqi businesses. Panelists examined key constraints facing SMEs, such as access to technology, new markets, and international business practices, and discussed practical ways to expand access to advisory services, business development tools, and financing.
“Today marks an important milestone in our partnership with Iraq,” said Catarina Bjorlin Hansen, EBRD Head of Iraq. “We see enormous potential in the country’s private sector, which is central to building sustainable growth and creating opportunities for the next generation. By launching our SME finance and development programmes and opening the first local call for Star Venture, we are backing ambitious Iraqi entrepreneurs, helping them scale their businesses, hire more people, and increase their international competitiveness.”
