15:49 - 2022-12-27
Today, Tuesday, the Minister of Labor and Social Affairs, Ahmed Al-Asadi, directed that granting loans should be for real, economically feasible projects.
The ministry stated, in a statement, that “Al-Asadi, while chairing a meeting of the Board of Directors of the Fund for Supporting Small Income-Generating Projects, said: “Small loans came in order to employ job seekers, and to find projects that are feasible and beneficial to the beneficiary, pointing out that most of the loans granted go to other than their set objectives.
He explained that "the ministry has obtained the approval of the Council of Ministers to increase the capital of the lending fund, and it is awaiting the completion of capital enhancement procedures from the executive and legislative authorities," noting that "the responsibility of the fund's board of directors is not only to grant loans, but rather to find a suitable way to employ job seekers." To create real economically feasible projects, in addition to creating a job market for these projects by submitting plans or contracting with consultants to develop them more seriously.
Al-Asadi said, "There are many successful projects, and a way must be found to promote such projects in the media to deliver a clear message to the citizen that has a clear and tangible impact on small projects in all the country's governorates."
And the statement continued, "During the meeting, the topics on the agenda were discussed, and the launch of the (34) batch of small loans next week was discussed," noting that "it was approved to cancel the ratification of the lease contracts of project owners within business incubators for the purpose of simplifying their procedures, and approving On transferring 20 loans allocated to the productive families program to rural women, and excluding some cases by the minister (owners of real innovative projects) from the conditions because they are not registered in the labor and vocational training database, which number 200 loans.
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