Ministry of Labor to Launch Comprehensive Lending Initiative Supporting Women's Projects

The Ministry of Labor and Social Affairs is preparing to launch a comprehensive lending initiative aimed at supporting women's projects and expanding financing programs dedicated to them. Atour Al-Moussawi, Director of the Social Protection Department for Women at the Ministry, stated that this initiative comes as part of the Ministry's efforts to support economic and entrepreneurial activities led by women, facilitating access for project owners to official funding sources. This will enhance the success and sustainability of their businesses. Al-Moussawi clarified that the new project focuses on removing obstacles faced by women when applying for loans. This includes simplifying procedures, reducing administrative requirements, and lowering interest rates to suit the economic and social conditions of beneficiaries, especially women who have lost their breadwinners and the most needy families. The goal is to enhance their financial independence and provide sustainable income sources for their families. She pointed out that this integrated development initiative also aims to enhance women's readiness to obtain funding, through developing their capabilities in project management and financial planning, improving institutional procedures for granting loans, and facilitating interaction between beneficiaries and relevant financial institutions. This project is part of governmental efforts to boost women's participation in economic activity and support their entrepreneurship. Its implementation is coordinated with several international partners specializing in financial inclusion and economic development. Al-Moussawi revealed that the project receives funding from the German Federal Ministry for Economic Cooperation and Development (BMZ), with technical and executive support from the German Agency for International Cooperation (GIZ). This underscores the importance of international partnerships in supporting women's empowerment programs and creating a suitable environment for the growth of their projects towards achieving sustainable development.