MIDDLE EAST NORTH AFRICA INVESTMENT INITIATIVE (MENA II) – IRAQ
PROVINCES
Basrah, Ninewa Plain, Northern Iraq
LIFE OF ACTIVITY
2014 – 2036
USAID FUNDING
$24.5 million
IMPLEMENTING PARTNERS
GroFin in collaboration with Nomou Fund and Osool
GRANTEE
The Shell Foundation
OVERVIEW
Promoting a productive Iraqi small and medium enterprise (SME) ecosystem requires ensuring access to financing. USAID’s MENA II activity, in partnership with the Shell Foundation, is responding to the challenge.
GOALS
MENA II seeks to revitalize economic activity in Iraq by providing access to financing, technical assistance, and business support to create sustainable jobs, improve business competitiveness, and develop an enabling investment climate for SMEs. Together with the Shell Foundation, USAID invests in Iraqi firms through a development financier specializing in finance for small and growing businesses across the Middle East and Africa. Through MENA II, USAID is also investing $2 million in small and medium-sized agribusinesses to increase food security in Iraq.
IMPACT
- Invested over $15 million in 56 SMEs across Iraq, sustaining over 1,900 jobs and supporting more than 9,200 livelihoods.
- Connected nearly 200 entrepreneurs with business support services.
- Supported 29 SMEs with COVID-19 relief funding.
- Sustained 232 jobs held by women and 956 jobs held by youth in directly financed enterprises.
- Invested in 6 women-owned and 20 youth-owned businesses.
