Advisor To The Prime Minister: Providing Small Loans Provides Employment Opportunities Of No Less Than 60%

 Advisor To The Prime Minister: Providing Small Loans Provides Employment Opportunities Of No Less Than 60%

 
Economy     May 23, 2025, 11:39  Baghdad - INA - Amna Al-Salami  Advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Friday, that  providing small loans absorbs and provides employment opportunities of no less than 60%.

He explained that the loans expand the activity of small businesses and increase their contribution to the country's gross domestic product.
 
Advisor to the Prime Minister, Mazhar Mohammed Salih, told the Iraqi News Agency (INA):
 
"Within the framework of administrative reform and combating bureaucracy, which are principles of the government's approach, the factor of
 
simplifying procedures is the first priority in maximizing resource management and economic activity to achieve promising sustainable development in accordance with our country's development goals." He added,
 
"Prime Minister Mohammed Shia al-Sudani's directive to simplify microfinance grants undoubtedly carries significant benefits at both the individual and economic levels, as
 
many microfinance programs target marginalized or emerging groups, such as women and housewives, contributing to their integration into the economy." Saleh explained that
 
"these loans are highly effective financial levers for employment and mobilizing labor market actors, as 

they facilitate the start-up of private projects for young people and skilled craftsmen and women, opening the door to entrepreneurship. "

 He noted that they "help generate a stable source of income for individuals and their families, and reduce poverty and unemployment rates by empowering individuals economically.
 
Therefore, these microfinance loans are a cornerstone of the financial inclusion policy and one of its goals of eliminating unemployment and achieving development and income equality as much as possible." 

He explained that "loans 

     play a significant role in employment policy and 

     affect the balance of the labor market, by 

     absorbing and providing employment opportunities that constitute no less than 60% of available job opportunities, not to mention their role in 

     raising growth rates in the gross domestic product," noting that
 
"they play a role in expanding the activity of small enterprises, which increases their contribution to the country's gross domestic product."      https://www.ina.iq/234862--60.html