In the coming few days, Iraqi Ministry of Labor and Social Affairs will launch the small loan fund according to which unemployed will be given 20m IQD for each small project they propose.
Abdulla Lami, media advisor at the Ministry, the government has allocated the fund under law no.10 of 2012.
The fund will be based in Baghdad and its branches are expected to open in the other provinces.
Lami added the unemployed will be allocated the fund without being obliged to pay any profit or income tax.
The aim behind establishing the fund is to create more job opportunities, reduce the unemployment rate and support the national economy by exploiting manpower, said Lami.