Baghdad – IA
The Small Income-Generating Projects Fund confirmed today, Tuesday, the allocation of 25% to beneficiaries of the social protection network, from each loan package granted by the Ministry of Labor and Social Affairs, while specifying the value of the loan.
Director of the Small Income-Generating Projects Fund, Hassan Abdul Jalil, told the (INA): “The Ministry of Labor and Social Affairs, since the beginning of implementing the government program, has implemented a program to provide loans to beneficiaries of the social assistance network, and a share of 25% of each meal released has been allocated within the loan packages.” To the category of beneficiaries of the social protection network.
He added, “An electronic application interface was opened by the Social Protection Authority for the purpose of applying to the platform called (My Umbrella) and through the (Arzaq) channel, and a large number of citizens applied for the purpose of inclusion. The first meal was launched during the month of November last year, and is currently underway.” Reviewing those who applied and sending text messages to those included in the meal, and they are currently being received by the Department of Labor and Vocational Training, Loan Department in Baghdad and the provinces.”
Abdul Jalil added, “The first meal was launched as four meals together because the allocation was received at the end of the fiscal year, and in the current year and the following year it will be launched in the form of four meals, and the fund’s capital was enhanced by 400 billion Iraqis for each year within the general budget, and 100 billion will be allocated.” For the category of social protection beneficiaries, at a rate of 35 million per borrower, whether social protection beneficiaries or other categories of job seekers registered in the database. The person included is required to be 18-55 years old. The loan is also granted in the form of two payments under the sponsorship of an employee, retiree, or military person. Or the Internal Security Forces or the Social Security retiree.”
He continued, “The loan applicant is trained in a simple course in entrepreneurship and business innovation before granting him the loan and in two installments, the first not exceeding 40% of the loan value based on the economic feasibility study submitted by the borrower to the relevant committees in the department and its divisions. After that, the project is inspected and confirmed.” His website for continuous follow-up, after which the second installment is disbursed without the need for the borrower to return to the ministry again for the purpose of promoting a new transaction, as the recommendation of the field committee visiting the project is to grant him the second installment, which is the remaining amount of the loan value.”