• The International Finance Corporation (IFC), Iraq Venture Partners (IVP), and Innovest Middle East have partnered to launch the Scale Iraq programme, aiming to support 20 Iraqi startups.
• Scale Iraq, part of IFC’s broader Scale Mashreq programme, will provide Iraqi entrepreneurs with opportunities to grow their businesses and automate their services.
• ScaleMashreq operates under the umbrella of the PROSPECTS Partnership, a global initiative backed by the Government of the Netherlands that aims to improve the lives of displaced citizens in the Levant region.

Source: Iraq Business News

The International Finance Corporation (IFC), Iraq Venture Partners (IVP), and Innovest Middle East have created a new initiative that aims to address the challenges faced by entrepreneurs in Iraq.

A statement from the IFC said the new programme, Scale Iraq, will support 20 startups, addressing their specific needs and gaps and designing and delivering tailored interventions to help them raise financing and connect with potential investors.

The initiative is part of IFC's broader #ScaleMashreq programme, which aims to support 150+ startups across the Levant region. ScaleMashreq operates under the umbrella of the PROSPECTS Partnership, a global initiative delivered in partnership with the Government of the Netherlands that aims to improve the access of host communities and forcibly displaced people to education, social protection, and decent work.

PROSPECTS brings together the IFC, the International Labour Organisation (ILO), the UN Refugee Agency (UNHCR), the UN Children's Fund (UNICEF), and the World Bank to help transform the way in which governments and other stakeholders, including the private sector, respond to forced displacement crises.