Regional government launches micro-credit project for youth

Shkoi Kurdistan – Erbil

The Ministry of Labor and Social Affairs of the Regional Government, in collaboration with the representative of the Central Bank of Iraq, in Sulaymaniyah, has begun preparations for the launch of a small loan to young people, and has decided to launch a new project in the near future.
According to statistics from the Kurdistan Region’s Youth Support Fund, before the financial crisis, eight thousand and 336 people in the fund were given 76 billion and 600 million dinars to develop their own projects, but only 42 billion dinars.

Regarding the launch of the project, the Minister of Labor and Social Affairs of the Kurdistan Region, kwestan Mohammad, stated in a statement to (Shkoi Kurdistan): Stopped. Right now we want to start this important project.
Regarding the way the project was launched, the Minister of Labor said:the Ministry of Finance and Economy had approved the launch of the Small Loan Project, so the project was directed to the Council and the Ministry of Finance and the Ministry of Finance.

Those who take out small loans in the future and do projects and create job opportunities for a group of other young people will have to see two courses, one of which is how to run the project with the aim of succeeding, the second is vocational training in the areas of interest and willingness to do the project. He encouraged ordinary people as well to take part in solving this great task: “One of the things you and other people can do is keep up the pressure … there are going to be some difficult decisions for government”.

According to the terms of the Ministry of Social Security in the region, young people who give them loans must be at least 16 years old or more than 35 years old.
Also, they should be from the Kurdistan region and their financial situation is weak, and loans start from 1,000,000 to 15,000,000 dinars.

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