Baghdad: Prime Minister, Mohammed Shia Al-Sudani on Sunday reaffirmed the importance of the ‘Riyada’ initiative and the positive response it has received among young people, stressing the need to accelerate procedures for granting loans to beneficiaries.

According to National Iraqi News Agency, a statement from the Prime Minister’s Media Office said that Al-Sudani chaired a meeting dedicated to following up on the implementation of the initiative and launching loans for qualified applicants. He noted that Riyada represents a step toward building a new reality in the labor market and developing the private sector by supporting small projects and turning them into larger enterprises, thereby expanding job opportunities.

Al-Sudani directed the relevant authorities to take the necessary measures to ensure the smooth disbursement of loans and guarantee that beneficiaries receive their funds without delay, especially with the Central Bank of Iraq completing its financial reinforcement procedures, which he considered an important addition toward achieving the initiative’s goals.

According to the statement, around half a million people between the ages of 18 and 50 have registered in the program. Over the past 18 months, more than 90,000 participants joined training courses, 48,000 of whom have completed them. So far, 12,000 loans have been disbursed at a rate of about one billion dinars per week. The initiative has also contributed to creating nearly 22,000 job opportunities across various private-sector development fields.