Work The World Bank negotiated a $ 200 million emergency loan

Workers on an investment project
 
09/23/2020

Economy News - Baghdad

The Ministry of Labor and Social Affairs has confirmed that it will proceed with setting up meetings with the World Bank to obtain an emergency loan project for youth employment  in liberated areas.

The Director General of the Department of Labor and Vocational Training in the ministry, Raed Jabbar Bahed, said, "The ministry discussed during its meeting with the Parliamentary Work Committee the emergency loan project for the liberated provinces and the follow-up of the implementation mechanisms by the committee."

He added, "The Ministry of Labor has started meetings with the World Bank to work on the success of the project and to obtain the loan, which is hoped to reach $ 200 million."

And that "the first phase of loans is distributed among the beneficiaries by a thousand loans, divided into three categories; eight thousand dollars, five thousand dollars, and three thousand dollars according to the type of project."

"The ministry continues to work to employ the youth and give them opportunities to achieve financial incomes for them and create other job opportunities," Bahid said.

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