Baghdad – INA – Nour Al-Zaidi
The Small Income-Generating Projects Fund of the Ministry of Labor and Social Affairs confirmed today, Thursday, the training of borrowers to raise the possibility of the project’s success after studying the economic feasibility. While specifying the values of the loans, he pointed out that they are repayable over 5 years without interest.
Director of the Small Income-Generating Projects Fund, Hassan Abdul Jalil Hassan, told the (INA): “The beneficiary of the fund is required to be registered as a job seeker, to be between 18 and 55 years old, and not employed in the government sector, whether as a contract or staff.” Students are also not included.”
Abdel Jalil added, “The fund was established for the purpose of granting loans, not grants, and the allocations for the current year amounted to 375 billion, distributed among the governorates according to population percentages and the percentages of job seekers and poverty, and the total loans for the current year will be 11,432 loans, and the loans are specified according to the law between 20-30- 50 million to be paid over 5 years and without interest.”
He continued, “The new controls and instructions for lending have begun to qualify the citizen through training courses in a feasibility study for his project and entrepreneurship in order to ensure the success of the projects,” noting, “In the fund’s previous program, the value of the loan was 80 million before the law was amended.”