By John Lee.
Prime Minister Mohammed Shiaa Al-Sudani chaired a meeting on Sunday to follow up on the implementation of the government's "Riyada" initiative and the disbursement of youth loans for qualified applicants.
Al-Sudani highlighted the initiative's positive reception among young people, describing it as a foundation for a new labour market reality, encouraging private sector growth and small-scale projects with potential to expand. He stressed the need to accelerate loan processing to ensure timely disbursement, supported by funding from the Central Bank of Iraq (CBI).
Since its launch, nearly 500,000 individuals aged 18-50 have registered for the programme. Over 90,000 have undertaken training in the past 18 months, with 48,000 completing the process. To date, 12,000 loans have been disbursed, averaging around 1 billion dinars per week. The initiative has also generated approximately 22,000 jobs across various private sector activities.
(Source: Prime Minister's Office)
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