The Governor of the Central Bank of Iraq, Ali Al-Alaq, during a conference held by the German Agency for International Cooperation for the needs and priorities of actual financing for small and medium enterprises in Iraq, that the launch of the "Riyada" bank project will be a base to support this sector.
Al-Alaq explained, "The Central Bank will continue to support small and medium enterprises, which are the backbone of economic projects, stimulate the private sector and reduce unemployment and poverty." Considering that "previous experience has shown that financing alone is not enough, but it is necessary to strengthen sectors, skills, training and provide a suitable environment for the launch of projects."
According to data from the Ministry of Planning, the unemployment rate in Iraq reaches 15 percent, equivalent to about seven million people out of a population of about 43 million people.
Source (Al-Arab Newspaper of London, Edited)
