Economy

An international agreement to support job creation and stimulate the local economy in Iraq

Baghdad (UNI/INA) - Yesterday, Sunday, the International Organization for Migration signed an agreement with the German Embassy in Iraq to support job creation and revitalize the local economy in Iraq.

The head of the International Organization for Migration’s mission in Iraq, Georgi Jikauri, said in a speech during the signing of the agreement, which was attended by the Iraqi News Agency (INA) correspondent: “Today, the sixth phase of the International Organization for Migration’s program was signed, which contributes to supporting the Iraqi economy by creating job opportunities and revitalizing The local economy, a program made possible with the support of the Government of Germany through the German Development Bank.”

He added: “The new agreement will support the International Organization for Migration’s ongoing efforts in Iraq to promote economic recovery and create sustainable job opportunities, by providing additional financing worth 23.35 million euros for the years 2024-2028.”

He continued: “Since 2018, the German Ministry of Cooperation and Economic Development has committed an amount of 135 million euros to support the activities of the International Organization for Migration in Iraq to contribute to economic recovery by supporting job creation and the rehabilitation of key community infrastructure such as markets and industrial areas.”

He continued in his speech, “With this project, the International Organization for Migration will continue to work in 9 governorates in northern and central Iraq by providing support to 1800 individuals for employment in public works.” IOM will also rehabilitate key economic infrastructure to revitalize markets and facilitate economic development.”

Jikauri stressed that “IOM continues to work closely with the Government of Iraq in supporting efforts to increase women’s economic opportunities and participation and assist individuals with improved employment skills by providing business support groups and vocational training through its Individual Livelihood Assistance Programme.”

He explained that this new phase of cooperation with the German side will allow the organization to continue its pioneering initiative (the Enterprise Development Fund), and the European Development Fund will continue to support the private sector, especially small and medium-sized companies in Iraq, and promote the creation of sustainable job opportunities, pointing out that this new phase alone will facilitate the creation 1100 new job opportunities throughout Iraq.

He revealed that “this project will be in cooperation with the Ministry of Labor and Social Affairs and local governments in the governorates to support these projects and implement them on the ground.”

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