PM:04:18:08/06/2025
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The Iraqi Ministry of Labor and Social Affairs announced a new initiative on Sunday, June 8, 2025, aimed at empowering youth through small business loans. The program will offer loans ranging from 20 million to 350 million Iraqi dinars to individuals with viable business ideas.
Ministry spokesman Hassan Khawam stated that the project is being launched in collaboration with the International Labor Organization (ILO), the German Development Bank (KfW), and a local Iraqi company. The initiative aims to support job creation and entrepreneurial efforts in the country’s struggling labor market.
Khawam emphasized that the loan program is open to all job seekers who register through the national career platform, which serves as a bridge between employers, investors, workers, and entrepreneurs.
The platform is designed to streamline employment opportunities while also enabling aspiring business owners to access financial support, especially young Iraqis eager to launch startups or expand small-scale enterprises.
This move is part of broader economic reforms aimed at reducing unemployment and enhancing private sector engagement in Iraq’s post-conflict recovery and development strategy.