Iraq Increases Funding for Small Projects

Iraq's Cabinet has approved a substantial capital increase in the Fund for Supporting Small Income-Generating Projects. The fund's capital will be increased from the previous amount of 150 billion (~US$111 million) dinars to 1,350 billion dinars (~US$1 billion).

According to a government statement, this expansion is part of the Ministry of Labor and Social Affairs' three-year plan within the government program, and is in accordance with the provisions outlined in Law No. (10) of 2012, which specifically focuses on the support and development of small, income-generating projects.