By John Lee.
The Iraqi Ministry of Labour and Social Affairs has reportedly earmarked 150 billion Iraqi dinars ($130 million) in this year’s budget for loans to small and medium-sized businesses.
Minister of Labour, Nassar al-Rubaie (pictured), told Al-Shorfa:
“The interest-free loans, which were allocated for unemployed people, will be given to finance their small and medium-sized enterprises.“
He added that borrowers will be able to repay the easy-term loans following the successful completion of their projects.
Loans are available from Thursday 9th May through joint committees from the Ministry of Labour and government-owned banks.