Renewable Energy Financing Solution

This financing product supports the installation of electricity generation systems (residential/industrial) under the Iraqi Central Bank’s Renewable Energy Initiative, with a particular focus on solar energy

The financing mechanism enables the purchase of solar power systems that generate and store electricity by converting sunlight into usable power—especially useful during outages. Electricity is produced using technologies such as photovoltaic (PV) panels.

Key benefits of these systems include:

• Environmentally friendly – no harmful emissions like CO₂; energy is generated cleanly without burning fuel..
• Renewable source – relies on sunlight.
• Lower electricity costs – reduces dependence on traditional power grids.
• Easy to install and maintain

The product will support the financing of residential and industrial energy systems that will contribute to the following:

• Easing the burden of electricity generation on both the government and citizens
• Reducing carbon emissions and environmental impact.
• Lowering operational and energy costs.
• Providing affordable financing to make this technology more accessible and lessen the financial strain of its adoption

Eligible Beneficiaries:

• All Iraqi citizens—whether employed in the public or private sector—regardless of whether their salaries are domiciled with the bank, provided they are between 18 and 60 years old at the end of the loan term.
• Individuals working in economic sectors and freelance professionals (noting that this group carries higher risk).
• Existing small, medium, and large enterprises with a minimum operational history of three years.
• Residential housing complexes