Newsroom Headlines

USAID-supported Iraqi Youth Initative creates businesses and jobs

The U.S. Embassy, through the United States Agency for International Development (USAID),announced last week that 27 young Iraqi entrepreneurs from Baghdad, Karbala, Wasit, Muthanna, Najaf and Dhi Qar provinces have been awarded microfinance loans worth $87,700 through USAID’s Iraqi Youth Initiative to help them start new businesses that will create an estimated 54 new jobs. 

With statistics showing that more than half of Iraq’s young urban males are unemployed, with female participation in the workforce even lower at 19%, there is a clear need for a program dedicated to helping those seeking their first job or assistance starting a business of their own.

In order to better articulate the human rights protection within the health service delivery system and to ensure that all Iraqis are aware of their rights, the USAID-funded Primary Health Care Project in Iraq (USAID-PHCPI), in collaboration with the Iraqi Ministry of Health, has developed the first Iraqi Charter of Patient’s Rights. To assist community advocates, health workers, and policy makers to take the first steps towards implementing the Iraqi Charter of Patient’s Rights, the Ministry of Health (MoH) in cooperation with USAID held a two-day National Workshop. The workshop took place on March 4th and 5th,  2012, with over 250 participants in attendance. Under the patronage of His Excellency the Minister of Health, Dr.

  (Iraq Business News, 02/23/2012)

The Iraqi Company for Bank Guarantees (ICBG) is a privately-owned non-banking financial institution that guarantees repayment of up to 75% of loans, ranging from $5,000 up to $250,000, that private commercial banks extend to small and medium enterprises (SMEs) in Iraq. Early this year, the company reached a significant milestone when it surpassed $50 million of loan guarantees on loans disbursed to SMEs.

$50 million may not seem like a lot of money in big financial circles. But for the 4,000 entrepreneurs who have started or expanded their businesses thanks to timely, guarantee-assisted bank financing, $50 million has made all the difference for success.

Back in 2006, when the U.S.

Investors at the Erbil Trade Fair in October 2011

In his joint press conference with Iraqi Prime Minister Nouri al-Maliki on December 12, 2011, President Barak Obama noted that “In the coming years, it’s estimated that Iraq’s economy will grow even faster than China’s or India’s.”

Foreign and regional investors interested in Iraq’s economic potential, but uncertain about the country’s investment regulations, arbitration laws and tax structure, should consider consulting a series of recently published Investor Guides.

Last month the Central Bank of Iraq co-hosted a conference with USAID’s Iraq Financial Development Project on “Integrating the Banking and Financial Services Sector in Iraq.” This event, which was held in Istanbul from November 18-19 covered two upcoming changes to the payments system that have the potential to revolutionize Iraq’s banking sector.
 

The first is the introduction of a “national switch” for processing credit card and ATM transactions. The switch—essentially a router and some specialized software—will connect all of Iraq’s ATM machines and credit card point-of-sale scanners to a common platform. At present, each card-issuing bank operates its own system. Because not every point of sale is connected to every system, no one card will work everywhere.

Baghdad, Iraq:To further health cooperation as called for under the U.S.-Iraqi Strategic Framework Agreement, the United States Government and the Government of Iraq’s Ministry of Health signed a Memorandum of Understanding (MOU) today to support efforts to improve and expand delivery of essential primary health care services throughout the country.  The Deputy Minister of Health and the Acting Mission Director of the United States Agency for International Development (USAID) signed the MOU at a ceremony at the Ministry of Health on September 20, 2011.  USAID’s Primary Health Care Program in Iraq will increase coverage for vulnerable and at-risk populations, such as children under five, women, and Internally Displaced Persons.

USAID, together with program partners convened Wednesday, September 14, 2011, in Baghdad to award the first round of grants funded by the US Government through USAID’s Iraq Access to Justice Program.  Representatives of Government of Iraq ministries, the U.S.

 President Obama and Secretary Clinton have both made clear that it will be the policy of the United States to promote reform and democratic transitions. As a result, we must work to elevate the importance of self-determination and human dignity in our foreign policy and in our approach to development.

 We cannot rely on the unsustainable stability provided by autocrats, or limit our assistance to groups that have been endorsed by governments. Instead, we will seek real democratic reform as a means to further peace and give people the ultimate voice in their own destiny and development.

Last month the Central Bank of Iraq co-hosted a conference with USAID’s Iraq Financial Development Project on “Integrating the Banking and Financial Services Sector in Iraq.” This event, which was held in Istanbul from November 18-19 covered two upcoming changes to the payments system that have the potential to revolutionize Iraq’s banking sector.

 The first is the introduction of a “national switch” for processing credit card and ATM transactions. The switch—essentially a router and some specialized software—will connect all of Iraq’s ATM machines and credit card point-of-sale scanners to a common platform. At present, each card-issuing bank operates its own system. Because not every point of sale is connected to every system, no one card will work everywhere.

Young boy with fruit and vegitables

USAID’s Health Promotion Program in Iraq (HIPPI) and Iraq’s Ministry of Health (MoH) launched a print, radio and TV campaign to promote good nutrition and exercise for youth.  The drive, which includes in-school activities, is just one of several communications activities that are part of the HIPPI program.

HPPI is identifying public health priorities, designing health communication materials and strategies, and implementing effective behavior change communication activities.

Ahmed and Rama, two young children in a multicolored ringThe mass-media campaign promoting balanced diets and activity among youth is targeting children and parents.  The MoH reports that