Enabling Iraqis to Rebuild Iraq

CHF International began working in Iraq in June 2003, just two months after the end of Saddam Hussein’s government. The Iraqi people were facing a host of challenges in rebuilding the political, social, and economic institutions of their society in recovering from years of conflict.

Community Action Program (CAP)

At the request of USAID, CHF began working in three governorates (provinces) in southern and central Iraq on the Community Action Program (CAP). The goal of CAP was to undertake rebuilding projects to establish a sound and sustainable physical and economic infrastructure that would have a substantial impact upon conditions in Iraq.

Access to Credit Services Initiative (ACSI)

Owners of small to medium-sized enterprises (SME) and home-owners had traditionally been excluded from mainstream loans and other services, and had to turn to local moneylenders who often charged prohibitively high interest rates. With the aim of stimulating the Iraqi economy, CHF International created the Access to Credit Services Initiative (ACSI), a major development finance program whereby Iraqi entrepreneurs and home-owners had access to the loans necessary to expand their businesses or improve their living conditions.

Iraq Middle Market Development Foundation (IMMDF)

In 2004, the Overseas Private Investment Corporation (OPIC) saw a market gap in the finance industry in Iraq. Middle Market Enterprises – companies larger than SMEs – were also being excluded from traditional loans and were hitting a glass ceiling. CHF International worked with OPIC to set up the Iraq Middle Market Development Foundation (IMMDF) to give out loans of up to $5,000,000 to growing enterprises that showed promise in the recovering Iraqi economy.