The International Labour Organization (ILO) has launched the Credit Guarantee Fund to empower small and medium enterprises (SMEs) in Iraq.The scheme is a partnership with the Ministry of Labour and Social Affairs (MoLSA), with funding from the German Ministry for Economic Cooperation and Development (BMZ) through the German Development Bank (Kreditanstalt für Wiederaufbau, KfW).The €40-million Fund, managed by the Iraqi Company for Bank Guarantees (ICBG), will enable up to €100 million in loans to SMEs, addressing Iraq's long-standing financing gap and encouraging banks to expand lending-especially to women- and youth-led businesses.It aims to provide 3,000 loans; create 4,000 jobs; sustain 5,000 others; and deliver financial and entrepreneurship training to 3,000 SMEs by 2031. (ICE AMMAN)

Fonte notizia: Stampa Locale