To support the Iraq green economy transition, the International Labour Organization (ILO) held a five-day workshop in Erbil. The Central Bank of Iraq (CBI) partnered in the event, with funding from the Italian Agency for Development Cooperation (AICS).
Furthermore, Participants included commercial banks, government offices, and microfinance groups. They learned how to build green finance tools for small and medium-sized businesses.
The workshop focused on creating new financial products. It also taught how to follow Environmental, Social, and Governance (ESG) rules. Participants practiced methods to measure the impact of green lending.
Additionally, The TAUFIQ initiative led the training. It helps Iraq shift toward clean energy and low-carbon economic growth. Iraqi banks gained skills to support eco-friendly businesses and reduce harmful emissions.
Furthermore, Iraq faces tough environmental problems. These include extreme heat, pollution, and water shortages. However, green banks can help solve them. They can invest in clean power, farming, and waste solutions.
Moreover, The CBI stated that green finance can grow the economy and create jobs. It urged banks to support long-term projects. The ILO added that green finance can fight poverty and back global climate goals.
Banks that joined the training plan to launch green loans. These loans will fund projects that protect the environment. They will also support businesses that offer climate-friendly services.
This workshop plays a key role in the Iraq green economy transition. It gives banks tools to support a cleaner future. Now, Iraq’s financial sector can lead climate action and build a strong economy.
In addition, With more banks joining the green movement, the Iraq green economy transition gains new momentum. Clean energy and green jobs can now grow together.
In conclusion, this workshop is a major step toward the Iraq green economy transition. It empowers Iraqi banks to play a stronger role in climate action and economic reform. By building new financial tools, the country moves closer to a more resilient and sustainable future.