News dalla rete ITA

2 Aprile 2019

Iraq

KURDISTAN LEANS ON PRIVATE SECTOR TO EMERGE FROM ECONOMIC DOWNTURN

ERBIL, Kurdistan Region – The decline in job opportunities and increasing rate of unemployment has impelled the Iraqi government to allocate $1 billion to small businesses initiatives in a bid to create more jobs in the private sector, according to the Regional Trade Bank (RT Bank).Over the past three years, nearly 10 billion dinars ($8.36 million) out of the amount dedicated by the Iraqi Central Bank have been lent for business initiatives by four private banks in the Kurdistan Region.People who want to establish businesses can apply for short-term or long-term loans with the amount depending on the magnitude of the business.The government’s move to help people set up their own businesses has made a difference in the lives of many. Creating job opportunities is a main consideration for a private bank loan.The Kurdistan Region is emerging from several crises including the Islamic State (ISIS) conflict, IDP influx, and global crash in oil prices.With governmental reform to address a bloated public sector and diversifying its private sector, the Kurdistan Region hopes to return to the economic boom it experienced 10 years ago.  (ICE AMMAN)


Fonte notizia: Business Iraq