Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status update — January 23, 2017

Kiva and CHF Vitas Iraq have agreed to end their partnership after nearly 7 years and more than $3.9 million in loans raised. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank CHF Vitas Iraq for the years of collaboration and wish them success in their future endeavors.

Status update — January 28, 2016

Kiva has moved this Lending Partner to inactive status. This means CHF Vitas Iraq is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. CHF Vitas Iraq and Kiva came to this decision mutually, as CHF Vitas Iraq is directing most of its resources on the increasingly challenging operating environment in Iraq. As such, CHF Vitas Iraq has decided that now is not the appropriate time to focus on posting loans to Kiva. If and when this partner requests to fundraise again on Kiva, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary.

Partner description: 

In July 2003 CHF International piloted the first microfinance program in Iraq, Access to Credit Services Initiative (ACSI) to address the demand for credit from micro and small businesses and homeowners. Since that time it has grown into the largest MFI in the country, covering over more than 65% of Iraq’s geographical area (as of December 2011). In 2015, ACSI entered the CHF International’s global network of microfinance institutions, known as Vitas Group, to expand its direct lending capacity. It is now known as CHF Vitas Iraq.

CHF Vitas Iraq’s mission is to contribute to the overall economic revitalization of Iraq by helping male and female business owners and homeowners to strengthen and expand their businesses, stabilize their income, and improve their habitat & quality of life; which is consistent with CHF International’s mission to improve the housing and economic circumstances, and environments of low and moderate income communities around the world.

CHF Vitas Iraq’s main objectives:

The large demand for CHF Vitas Iraq services also demonstrates that Iraqis continue to seek opportunities to invest in their future.