On Thursday, July 24, 2025, Region Trade Bank (RTB), a leading financial institution in Iraq, announced the launch of a new low-interest loan program aimed at promoting the installation of solar panels for both residential and commercial use. This initiative aligns with the Iraqi government’s national strategy, financed through the Central Bank of Iraq, to reduce carbon emissions, increase the adoption of renewable energy, and address the country’s ongoing electricity challenges.
The innovative loan program offers flexible financing options for individuals and businesses interested in adopting sustainable energy solutions. Loans are available in amounts ranging 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. By providing accessible funding at competitive low interest rates, RT Bank hopes to empower customers to invest in solar technology and contribute to Iraq’s energy diversification and environmental goals.
Iraq continues to face chronic power shortages, particularly during the intense summer heat when temperatures often exceed 50 degrees Celsius. This puts a strain on the grid and leads to heightened demand for electricity. The new loan program is a strategic step towards addressing these issues by encouraging widespread adoption of solar energy, which can provide reliable, clean power and reduce dependence on traditional fossil fuels.
Ahmed Nowzad, CEO of RT Bank, expressed the bank’s commitment to supporting sustainable development and diversifying the country’s energy sources. He stated, “This program 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.”
Interested parties can now apply for the solar panel loans through the government’s www.ur.gov.iq portal. They are also encouraged to contact their nearest branch for more information on eligibility and the application process.
About Region Trade Bank (RT Bank):
Region Trade Bank for Investment and Finance is a prominent Iraqi bank established in 2001. Headquartered in Erbil, the bank has a strong presence in Iraq. 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.
This news article was distributed by https://pressat.co.uk/.
