IOM’s Enterprise Development Fund (EDF) is an innovative programme that supports livelihoods at the community level through private sector revitalization and economic development by targeting small and medium-sized enterprises (SMEs) in Iraq. 

The EDF provides financial capital to SMEs in primary, secondary, and tertiary economic sectors with a high demand for labour, with the objective of post-conflict economic recovery and inclusive economic development. Concurrently, targeting key sectors and businesses with the greatest potential to create jobs, the EDF encourages rapid and large-scale job creation. 

SMEs are limited by a lack of access to finance in Iraq. War, economic crisis, the COVID-19 pandemic have all contributed to destruction and loss of infrastructure and economy, worsened by the fact that finances to rebuild and recover are severely restricted for the affected SMEs. The EDF addresses this critical gap which limits the capacity for businesses to expand and hire new workers. Considering that 60 per cent of jobs in Iraq are concentrated in the private sector and that 

the public sector is unable to absorb new entrants to the economy, a focus on SMEs remains critical for the development of Iraq.

1460 Business funded
7315 Jobs created
8938 Existing jobs improved
$24,558,894 Grant
7,262,751 Contribution

The EDF helps businesses to expand and grow and create jobs. The EDF is built on evidence from market data and underpinned by robust information management systems. Through adaptations to different sectors or groups of individuals (such as women), the EDF continues to be flexible, adaptable and scalable. Comprehensive due diligence processes that are diversified across different incumbents reduce risk, ensure accountability, and increase efficiency and value-for-money. Operating since 2018, the EDF also counts on vast experience and lessons learned, which also allows for its catered export to other contexts

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1000 SMEs: Success Stories

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EDF Overview

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EDF Global Overview

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