ICFSME News

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Marketing Activities

The Company publishes an updated booklet and finalizes upgrading its website in support of a broad-based marketing initiative to create awareness about ICF-SME and promote its business and activities.
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ICF-SME Annual General Assembly Meeting

On July 11, 2012 ICF-SME holds its Annual General Assembly meeting at the Sheraton Hotel, Baghdad. At this meeting the Members agree to increase the Company’s share capital by $2 million, comprising $1 million paid-in capital and conversion of $1 million Grant funds.
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Iraqi Vulnerable Group Support Initiative (IVGSI)

The Iraqi Vulnerable Group Support Initiative (IVGSI), launched in the 1st quarter of 2012 to finance income generating activities of entrepreneurs displaced or forced to discontinue operations due to civil unrest, achieves the following milestones at the end of June 2012:
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Inma Grant Program - Second Round

Following a restructure of its USAID-INMA Grant, the Company disburses $1 million to four of its partner banks for financing Working Capital and / or Business Assets of agricultural projects in eight provinces.
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Unlocking Finance for Agribusinesses

The Company restructured its USAID-INMA allocations in order to redeploy financing for agribusinesses more widely and through additional banks. This will make available grant monies for loans in eight provinces.
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IVGS Initiative is Launched

ICF-SME committed to a new program, the Iraqi Vulnerable Group Support Initiative (IVGSI), launched to finance income generating activities of entrepreneurs displaced or forced to discontinue operations due to civil unrest.
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New MD

The Company appointed Mr Wisam Noori Sagman as the new Managing Director and increased staff. Mr Sagman previously served as deputy MD and Financial Manager.
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Senior Management Changes

ICF-SME’s Managing Director departed from the company to pursue a different project. The shareholders designated the Deputy MD as the Managing Director contingent upon Central Bank approval.

Inma Grant Program

The Company received the draft financial audits of the Inma Grant program in English for review and discussion pending formulation of final conclusions.
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2010 Annual Report

ICF-SME published its 2010 Annual Report, which will be distributed to a wide audience of interested parties.
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