Iraqi Company for Financing SMEs


Leading economic renewal through SME finance


The Iraqi Company for Financing SMEs (ICF-SME) fills a crucial role in SME financing in Iraq. It allocates funds under its management to its own shareholders - private commercial banks - to on-lend to small and medium enterprises.


To lead Iraqi banks towards sustainable financing of Iraqi SMEs, thereby supporting economic development, growth and job creation.

Company Mission

ICF-SME pioneers expanded SME credit availability through product innovation, stable funding, pricing and loan incentives, and targeted loan programs. It champions best practices in loan origination and underwriting. It serves as a catalyst to accelerate private bank penetration into the SME loan market and build a sustainable financing platform, in close collaboration with donor sponsors, to further revitalize Iraq’s private sector.

Presently ICF-SME is administering three different grant programs:

  • $6 million USAID-Tijara grant for SMEs operating in seven basic economic sectors.
  • $1 million USAID grant in 2010 specifically intended for agribusiness loans.
  • $8.95 million USAID grant award in 2012 for entrepreneurs displaced from civil unrest and seeking to restart or improve their businesses.

As a partner to the USAID-Tijara Provincial Economic Growth Program, and in cooperation with the microfinance institutions that it has supported, ICF-SME can also administer grant programs for on-lending to micro enterprises.