Prime Minister Mohammed Shiaa Al-Sudani led a meeting to review progress on the Iraq youth loans initiative. He focused on the programme’s impact and the importance of faster implementation.
During the meeting, Al-Sudani stressed that the initiative supports young people and creates a stronger labour market. He explained that it helps private sector growth and promotes small projects that can expand. He urged officials to speed up the loan process to give applicants timely access to funds. The Central Bank of Iraq is providing the financial support needed for this step.
Since its beginning, the Iraq youth loans initiative has attracted significant interest. Around 500,000 people aged between 18 and 50 have registered. Out of them, more than 90,000 have received training in the last year and a half. About 48,000 participants have successfully completed their training. This shows how quickly the programme is moving forward.
So far, the initiative has delivered around 12,000 loans. On average, about one billion dinars in loans are given out every week. This steady flow of funding shows the government’s commitment to making the programme sustainable. With this support, many young entrepreneurs are beginning their own businesses and creating new opportunities.
The results are clear. The Iraq youth loans initiative has created around 22,000 jobs. These jobs are spread across different private sector activities. The programme has become a key part of building a new generation of small business owners. In addition, it provides skills and resources that help young people build long-term careers.
Moreover, Al-Sudani highlighted that the initiative does more than create jobs. It builds trust between the government and the younger generation. It also strengthens cooperation between financial institutions and small business owners. This partnership helps develop a more dynamic and competitive economy.
The government plans to continue expanding the Iraq youth loans initiative. With more applicants and faster loan approvals, the programme is expected to reach even more young people. It will also keep supporting the private sector and encourage wider economic growth.
In conclusion, the Iraq youth loans initiative is helping thousands of people. It is not only about loans, but also about skills, opportunities, and jobs. By creating a better environment for small businesses, it is shaping the future of Iraq’s economy.