The Central Bank of Iraq (CBI) has announced a new initiative to support clean energy solutions, aligning with global sustainability efforts and the environmental policies of central banks worldwide.
As part of its renewable energy initiative, CBI will offer low-interest loans to local brick factories, enabling them to switch from high-pollution fuel (black oil) to cleaner liquefied gas (LPG). The loan ceiling has been raised to 500 million dinars per factory, available through licensed Iraqi banks.
Additionally, CBI will contribute 1 billion dinars to the Environmental Protection and Improvement Fund, aimed at tackling air pollution and climate-related challenges. These measures are part of Iraq’s broader green economic development strategy, supporting the industrial sector’s transition towards sustainability and reduced environmental impact.
(Source: CBI)
