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WORK STOPS GRANTING LOANS, AND THE REASONS ARE REVEALED
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WORK STOPS GRANTING LOANS, AND THE REASONS ARE REVEALED
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[You must be registered and logged in to see this link.]48 minutes ago24Today, Sunday, the Ministry of Labor and Social Affairs announced the suspension of the process of granting small loans to the unemployed in Baghdad and the provinces.
, as a result of the lack of the necessary financial allocations.
The Ministry's media director, Najm Al-Aqabi, said in a press statement followed by the news agency, "His ministry had opened a year ago, the door to inclusion in small loans for five thousand beneficiaries in Baghdad and the provinces, through its website, and about 224,000 citizens submitted as a result." To "the process of granting loans during the current year faltered due to the lack of sufficient financial allocations and reliance on what is recovered from the beneficiaries of previous loans."
He explained, "The Corona pandemic and the accompanying sluggish economic conditions were among the main reasons that prevented former borrowers from paying the sums of money they owed."
He stressed, "The Ministry of Labor will resume its launch process if the necessary funds are available, as well as re-work in lending programs for small projects to contribute to reducing unemployment and encouraging young people to establish their own projects."
Al-Uqabi pointed out that "since 2003 until the end of last year 2021, his ministry was able to launch about 60,000 loans for job seekers and graduates, adopting a points system, priority, social status and certificate in the loan granting process, while it launched 35 meals for small loans over the past years."
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, as a result of the lack of the necessary financial allocations.
The Ministry's media director, Najm Al-Aqabi, said in a press statement followed by the news agency, "His ministry had opened a year ago, the door to inclusion in small loans for five thousand beneficiaries in Baghdad and the provinces, through its website, and about 224,000 citizens submitted as a result." To "the process of granting loans during the current year faltered due to the lack of sufficient financial allocations and reliance on what is recovered from the beneficiaries of previous loans."
He explained, "The Corona pandemic and the accompanying sluggish economic conditions were among the main reasons that prevented former borrowers from paying the sums of money they owed."
He stressed, "The Ministry of Labor will resume its launch process if the necessary funds are available, as well as re-work in lending programs for small projects to contribute to reducing unemployment and encouraging young people to establish their own projects."
Al-Uqabi pointed out that "since 2003 until the end of last year 2021, his ministry was able to launch about 60,000 loans for job seekers and graduates, adopting a points system, priority, social status and certificate in the loan granting process, while it launched 35 meals for small loans over the past years."
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