Last updated July 15, 2013

Partner Description:

Izdiharona for Economic Development is a nonprofit organization in Iraq that provides financial assistance to small and medium enterprises in need of capital and to individuals to generate income and improve their quality of life. Founded in 2008, it currently operates ten branch offices throughout Iraq in the provinces of Baghdad, Babil, Basra, Karbala, Messan, Sulaymaniyah and more.

The organization is dedicated to providing financial services to help develop the Iraqi economy, which includes a vast number of small and medium enterprises. Izdiharona's financial products are designed to reach existing businesses, startups and individuals. And it prioritizes serving members of the most vulnerable groups in the Iraqi population.

Izdiharona works with clients who are typically marginalized or underserved by mainstream financial institutions and existing MFIs. Without loans, these entrepreneurs would not have the working capital needed to start or grow their businesses. Kiva lenders’ funds are used to provide education, startup, green, and youth loans, as well as interest free loans to the ultra poor and loans that support income generating projects for women. 

A unique lending approach:

Since its inception, the organization has specialized in agribusiness and micro-business loans supporting farmers and micro entrepreneurs. Today, it has expanded its services, offering small and medium enterprise loans to entrepreneurs, home improvement loans, solidarity loans, youth loans and more.

Izdiharona has a track record of serving the needs of many of the most vulnerable populations in Iraq. 68% if its portfolio consists of micro loans between $300 and $2,999, and it continues to have the lowest average loan size compared to other MFIs in Iraq.

Additionally, women are playing an increasingly important role in the economic development of the country, and with 35% of its portfolio consisting of female borrowers, Izdiharona has the highest percentage of female clients of any financial institution in the country.

The organization works in a truly post-conflict environment. Nine out of its ten branches are located outside Kurdistan, in regions including the high-risk areas of Baghdad and central and southern Iraq. In 2012, Izdiharona implemented the Iraqi Vulnerable Groups Support initiative, disbursing loans ranging from $500 to $5,000 to Iraqi individuals disadvantaged due to their gender, religion, ethnicity, location or nature of their business activity.Through this program  Izdiharona had supported 424 clients with over $1 million in loans.


Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Aug 9, 2013 Oct 12, 2005
Total Loans $581,900 $539,779,750
Amount of Raised Inactive Loans $0 $395,825
Number Of Raised Inactive Loans 0 277
Amount of Paying Back Loans $580,900 $111,481,150
Number Of Paying Back Loans 241 115,292
Amount of Ended Loans $1,000 $427,902,775
Number Of Ended Loans 1 549,684
Delinquency Rate 0.00% 3.29%
Amount In Arrears $0 $2,384,778
Outstanding Portfolio $446,241 $72,582,749
Number of Loans Delinquent 0 10,606
Default Rate 0.00% 1.01%
Amount of Ended Loans Defaulted $0 $4,334,868
Amount of Ended Loans $1,000 $427,902,775
Number Of Ended Loans Defaulted 0 14,050
Currency Exchange Loss Rate 0.00% 0.06%
Amount of Currency Exchange Loss $0 $298,028
Refund Rate 1.41% 0.82%
Amount of Refunded Loans $8,200 $4,417,000
Number Of Refunded Loans 3 4,864

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 50.58% 74.09%
Average Loan Size $1,617 $417
Average Individual Loan Size $2,074 $656
Average Group Loan Size $3,418 $1,813
Average Number Of Entrepreneurs Per Group 3 8
Average GDP Per Capita (PPP) in Local Country $3,600 $3,463
Average Loan Size / GDP Per Capita (PPP) 44.91% 12.05%
Average Time To Fund A Loan 5.65 days 5.29 days
Average Dollars Raised Per Day Per Loan $286.15 $78.90
  Average Loan Term 11.75 months 10.05 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 268,948
  Journaling Rate 0.00% 42.09%
  Average Number Of Comments Per Journal 0.00 0.09
  Average Number Of Recommendations Per Journal 0.00 2.06

Kiva HelpBorrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield 33.43% N/A 34.93%
  Profitability (Return on Assets) 4.99% N/A -1.11%
  Average Loan Size (% of Per Capita Income) N/A 44.00% 42.70%

Kiva HelpCountry Fast Facts

Field Partner Staff

Arafat Dajani
Salam Fadhel
Ahmed Hasan
Ahmed Taha