News: sustainable microfinance
Achievement Awards for Microfinance Professionals Mark the Successful Conclusion of the 3rd Microfinance Partners Workshop
The Third Iraq Microfinance Partners Workshop, organized on November 17 by the USAID-funded IZDIHAR project, brought together over 70 microfinance professionals and practitioners from all over Iraq in a forum to assess the progress of the industry and debate major issues relevant for its ongoing development.
The Fallujah Branch of “Al-Takadum” Microfinance Institution Makes First Loans
14 December 2007 - After the successful opening of its main office in Al Qaim in August, the Iraqi microfinance institution “Al Takadum Organization in Al Anbar” moved on to expand its operations and opened a second office in Fallujah. On November 15, the Fallujah branch of the organization disbursed the first two loans - one for home improvement, one for the development of a clothing shop - totaling $4,000. One week later, on November 22, the number of disbursed loans reached 14 and totaled to $32,200.
Iraqi Microfinance Institution in Salah ad Din Disburses First Loans
27 November 2007 - A new, indigenous microfinance institution in Salah ad Din established with the support of the USAID-funded IZDIHAR project vigorously kicked off its lending activities on November 11 when it disbursed 13 loans totaling $35,600. The recipient of the first loan was the owner of an electrical components shop, who borrowed $3,000 to purchase additional inventory for his business.
New Iraqi Microfinance Program Opens for Business in Salah ad Din
11 November 2007 - In October, a new Iraqi indigenous microfinance program began providing access to funding to local entrepreneurs in Tikrit, the capital city of the Salah al Din governorate. Soon it will expand and open satellite offices in four other districts of the governorate: Bayji, Dujayl, Al-Dhlo'ya and Al-Dour.
Newly Established Iraqi Microfinance Institution Awards First Loan in Al-Anbar
17 September 2007 - A select gathering of over 50 people, including local sheiks, religious leaders, local administration officials and business people, recently participated in the official opening in Al-Qaim of a newly established indigenous microfinance institution – the “Al-Takadum Organization in Al-Anbar”.
The Website of the Iraqi Microfinance Industry Goes Live
14 August 2007 - A new website dedicated to the Iraqi microfinance industry - www.imfi.org – offers information on upcoming events, resources, training and employment opportunities, and acts as an informal network for the microfinance industry in Iraq.
New Indigenous Microfinance Institution Will Open in Al-Anbar
14 August 2004 - The network of microfinance institutions active in Iraq will soon expand into new areas, as preparations for the opening of the Al-Takadum microfinance institution in Al-Anbar province move into the final stage.
Operational Assessments for Microfinance Institutions
14 August 2007 - As part of the overall technical assistance to indigenous and international microfinance institutions active in Iraq, the USAID-funded IZDIHAR project recently completed operational and financial assessments for the Ninewah Business Center and Relief International.
First Iraqi Professionals Receive Certification in Microfinance Training
5 July 2007 - In a recent graduation ceremony in Erbil, 11 Iraqi microfinance professionals stood up one by one, smiled happily and walked proudly to receive the diplomas acknowledging that they are the first Iraqi nationals certified to deliver microfinance courses in Arabic. The ceremony took place during the Second Microfinance Workshop for Partners and Practitioners organized by the USAID-funded IZDIHAR project.
IZDIHAR and Provincial Reconstruction Team in Kirkuk Facilitate New Source of Loan Funds for Iraqi Small Businesses
1 July 2007 - An Iraqi woman who started a business in tailoring two years ago and wants to expand it by purchasing a sewing machine is the first recipient of a loan facilitated by a new source of funding for Iraqi small businesses: Kiva.
Iraqi Microfinance Institution in Kirkuk Expands Operations
30 June 2007 - As part of its expansion plan, the Al-Aman Iraqi indigenous microfinance institution, established in Kirkuk by the USAID-funded IZDIHAR project, opened a second office inside the main market of the city in May 2007.
Iraqi Microfinance Industry Reaches Historic Benchmarks
25 June 2007 - The vibrant microfinance industry in Iraq reached several historical benchmarks in May, illustrating the energy and determination of the indigenous and international microfinance institutions that have been operating in the country.
Newly Trained Iraqi Loan Officers To Expand Microfinance Services in Baghdad
20 March 2007 - As a future loan officer of an indigenous microfinance institution based in Baghdad, Manar, a 27-year-old female, has an ambition: to assist in the economic development of her country. Manar is one of 18 proud graduates of the Microfinance Basics course organized by the USAID IZDIHAR program.
Iraqi Women Advocate for Increased and Effective Role in Business
12 February 2007 - In late January, over 60 enthusiastic women representing NGOs, businesses and government packed into the Al Rasheed Hotel for “Women in Business: A Promise for Economic Progress,”
a conference organized by the USAID IZDIHAR project. Participants engaged in a lively debate over access to small business loans, NGO registration processes, gender equality, business planning, microfinance and related issues relevant to Iraqi women entrepreneurs.
Summit Outlines Strategies for Microfinance Industry in Iraq
21 November 2006 - The Iraq National Microfinance Summit organized by the USAID-funded IZDIHAR project on November 14-15 gathered over 100 participants - including Iraqi and international microfinance practitioners, private sector partners, government officials, international financial institutions and USAID representatives - in an intense and thorough debate over the role and importance of microfinance in economic development and job creation in Iraq.
Iraq National Microfinance Summit Sets Strategic Course for Microfinance Sector in Iraq
13 November 2006 - In November, IZDIHAR is bringing together for the first time, in one forum, supporters and practitioners of microfinance in Iraq. The Iraq National Microfinance Summit will enable information sharing among practitioners of the nascent indigenous microfinance sector and will foster greater awareness of international best practices.
Indigenous Microfinance Institution Reaches Out to Businesswomen
6 November 2006 - As part of its outreach efforts, a USAID-funded microfinance institution in Kirkuk organized four training sessions for local businesswomen to train them on microfinance in general and to familiarize them with lending procedures. The training was organized in cooperation with a local NGO which focuses on women’s issues.
New Microfinance Organization Opens in Baghdad
1 October 2006 - In September, an independent new Iraqi microfinance institution (MFI) officially opened its doors for business. Supported by technical assistance to develop a business plan, recruit and train a Board and employees, and officially register, and by a $250,000 grant from IZDIHAR, the MFI will provide long-term access to a broad range of financial services to low-income individuals, households and business owners in a particularly dangerous area of Baghdad.
New Iraqi Microfinance Lenders Gain Practical Experience
25 August 2006 - Twelve management and staff members of two new Iraqi microfinance institutions (MFIs) recently attended a training program in Amman on microfinance fundamentals. The training laid the foundation for skills that will enable Iraqi staff to successfully operate their institutions to the benefit of small Iraqi businesses.
New Microfinance Institution in Kirkuk Helps Small Businesses to Recover and Grow
27 July 2006 – A pharmacy damaged in a terrorist incident in Kirkuk will be the first business to benefit from a new, indigenous microfinance organization established through a successful partnership between the USAID-funded IZDIHAR project, the US Military (MNC-I C9) and the Provisional Reconstruction Team (PRT) of Kirkuk.
US Military Supplements USAID Assistance to Microfinance Institutions
27 July 2006 - One of the Iraqi microfinance institutions established through the support of the USAID-funded IZDIHAR project recently signed an agreement with the US Military, which will provide the funding necessary to cover initial operating expenses.
Microfinance Loans Flowing to Baghdadis
11 May 2006 – Entrepreneurial Baghdad residents soon will benefit from a USAID-funded $250,000 microfinance loan program designed to help develop or expand small businesses that create jobs in Iraq.
TV Series Profiles Small Business Owners Finding Success in Iraq
2 April 2006 – Eighteen Iraqi small business owners from throughout the country were recently profiled in a three-week prime time series on Al-Iraqiya television. The series, called “Nahwa Al-Izdihar,” which means “Toward Prosperity,” consisted of five-minute interviews following the nightly economic news with businessmen who are finding success in Iraq’s growing private sector and showing others that there is hope for the future.
14 Iraqi Provinces to Benefit from USAID Microfinance Grants
9 March 2006 – USAID’s IZDIHAR project recently awarded $8.9 million in grants to three international non-governmental organizations (NGOs) to help build a sustainable microfinance industry in Iraq.
USAID IZDIHAR Briefs Military Civil Affairs Officers on Microfinance Techniques
6 November 2005 - Staff from the USAID IZDIHAR project recently provided a week of briefings in Baghdad in microfinance techniques for eleven military civil affairs officers who will be part of a pioneering USAID-DOD partnership to expand access to business loans for start-up companies in Iraq.
Iraqi Small Business Owners Attend Microfinance Seminar
24 October 2005 - The USAID IZDIHAR project recently teamed with the Multi-National Force–Iraq (MNF-I) to present a seminar on microfinance loans and business plan development for 40 small business owners in central Baghdad.
IZDIHAR and MNF-I Civil Affairs Work Together to Bring Access to Credit for Small and Medium Enterprises in Iraq
19 September 2005 - USAID’s IZDIHAR project and the Multi-National Force – Iraq (MNF-I) recently met in Baghdad to cement a relationship that will bring greater access to credit for small and medium enterprises throughout Iraq.
Iraqis Receive Training in Microfinance
31 July 2005 - Microfinance practitioner training builds the capacity of Iraqi non-bank lending institutions toe evaluate and manage loans to women-owned firms, small businesses and farmers. Providing working capital to credit-worthy enterprises will enhance economic growth and create new jobs.
Grant to Iraqi Microfinance Lender Opens Doors
14 July 2005 - An interim award to an Iraqi-registered NGO is preparing the way for a large microfinance lending program to assist farmers and owners of small businesses in northern Iraq.
Microfinance Lenders Receive Financial Analysis Training
7 June 2005 - In June, twenty-six micro-lending officers from Iraq’s emerging non-bank microfinance industry took part in a one-week training workshop in lending techniques.
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