Region Trade Bank (RTB), a leading financial institution in Iraq, has launched a new low-interest loan program aimed at promoting sustainable energy solutions. The initiative, announced on Thursday 24 July, 2025, is part of the bank’s commitment to supporting the Iraqi government’s national strategy to reduce carbon emissions, encourage renewable energy adoption, and address the country’s ongoing electricity challenges.
The loan program offers flexible financing options for both residential and commercial users looking to invest in solar panel installations. Loans range from 7 million to 30 million Iraqi dinars (approximately $4,800 to $20,700 USD) with a standard repayment period of seven years and the option for a six-month grace period. This accessible funding, provided at competitive low interest rates, aims to empower customers to invest in sustainable energy solutions and contribute to Iraq’s energy diversification and environmental goals.
Iraq has long struggled with chronic power shortages, particularly during the intense summer heat when temperatures often exceed 50 degrees Celsius. This loan scheme is a strategic step towards mitigating these issues by promoting the widespread adoption of solar energy. Solar technology can provide reliable, clean power and reduce dependence on traditional fossil fuels, making it a viable solution to the country’s energy challenges.
RT Bank’s CEO, Ahmed Nowzad, expressed his enthusiasm for the program, saying, “This initiative presents a great opportunity to promote sustainable development and diversify the energy sources of the country. At RT Bank, we are committed to supporting our customers in building a greener future while fostering economic growth through innovative financial solutions.”
Applications for the solar panel loans are now open and can be submitted through the government’s www.ur.gov.iq portal. Interested parties are encouraged to contact their nearest branch for more details on eligibility and application processes.
Founded in 2001, Region Trade Bank for Investment and Finance is a prominent Iraqi bank headquartered in Erbil. Licensed by the Central Bank of Iraq and listed on the Iraq Stock Exchange, RT Bank offers a wide range of banking services, including loans, deposits, and international transactions. With over 20 years of experience, more than 240 employees, and a network of branches and ATMs, RT Bank is dedicated to delivering secure, efficient, and customer-focused financial services to support Iraq’s economic development.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.