Interest-Free Business Loans for the Unemployed

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.

(Source: Al-Shorfa)