Economy Update – Baghdad
Qasim Al-Zalili, the Prime Minister for Youth Affairs, announced on Wednesday the launch of a government initiative aimed at creating an enabling environment for youth empowerment through specialized training and financial assistance. The program seeks to integrate young individuals into the private sector, advancing their professional opportunities.
In a statement, Al-Zalili discussed the progress of training centers being established in Najaf Governorate, which is part of the broader government strategy focused on equipping youth and new employees with essential skills. This initiative aligns with the current governmental policies aimed at revitalizing the economy.
Al-Zalili emphasized the importance of listening to the concerns of the youth, noting that they reviewed various proposals—some of which align with the government’s strategic objectives. This includes facilitating loans specifically designed to support young entrepreneurs and their transition into the private sector, addressing essential needs akin to governmental obligations outlined in the program.
The Prime Minister detailed that the overarching policy framework aspires to empower youth through initial training followed by the provision of loans, effectively preparing them to enter the private workforce. He highlighted that these initiatives are designed to cater to the aspirations and requirements of the youth, fostering their professional development.
Furthermore, Al-Zalili pointed out that the loan facilities will be accessible through an electronic card, which serves as proof of the training program completed by the beneficiary. The funds will be allocated based on the project proposed by the young entrepreneur. This approach is intended to minimize interaction with bureaucratic entities, such as banks, thereby alleviating the previously encountered obstacles that hindered youth access to loans and entry into the private sector.
For continued updates, subscribe to our channel on Telegram
