Erbil, The United Nations Development Programme (UNDP) in Iraq and the Kurdistan Regional Government’s Ministry of Planning (MoP) have today signed a new Memorandum of Understanding (MoU) that will boost the private sector by encouraging the growth of micro, small and medium enterprises (MSMEs).
The MoU provides a general framework for cooperation between the two parties to conduct a survey of MSMEs, funded with the generous support of the American people through the United States Agency for International Development (USAID) in all governorates of the Kurdistan Regional Government (KRG): Dohuk, Erbil, Halabja and Sulimaniyah.
The findings of the survey, which follows a similar survey conducted in Federal Iraq across Baghdad, Basra and Ninewa, will build a comprehensive understanding of MSME structure, development trends, and operations, in order to help MSMEs develop into a sustainable economic base in the Kurdistan Region of Iraq.
“Micro, small, and medium enterprises are the lifeblood of a healthy economy. They are also exceptionally vulnerable to risk. The U.S. Government, through USAID, is proud to contribute to this important research that sheds light on the opportunities and challenges of this critical sector and promote sustainable economic growth in the Iraqi Kurdistan Region,” says USAID Mission Director to Iraq John Cardenas.
“The KRG is very grateful to USAID and UNDP for their assistance in conducting a Micro, Small and Medium Enterprises (MSMEs) Survey, which will be held for the first time throughout the Kurdistan Region. This will help identify deficiencies and provides recommendations for developing these institutions to provide job opportunities for young people in the private sector and reduce the unemployment rate, especially among young people.” says Minister of Planning of KRG, Dr. Dara Rashid.
“This partnership is critical to enhancing livelihoods creation through strengthening the development of MSMEs in the Kurdistan region. We have already derived some extremely valuable insights through the Federal Iraq survey which has helped us develop a roadmap on the way forward – ensuring business owners and those thinking of starting their own business have the necessary support and encouragement they need,” says Resident Representative of UNDP Iraq Zena Ali Ahmad.
“This memorandum is another testament to the excellent cooperation between UNDP Iraq and the Kurdistan Regional Government – a key partner across many of UNDP’s initiatives – as well as the partnership with our generous donor, USAID. We are extremely grateful for its ongoing commitment to fostering private sector growth in both Federal Iraq and the Kurdistan Region of Iraq,” she added.
Source: United Nation Iraq