Thursday, September 11, 2008

Good News from Iraq: 11 Sept 2008

From MNF-I, Iraqi Businesses Show Resilience.

BALAD — It takes money to make money.

The Al Bayda center near Balad is a non-governmental organization that provides assistance in the form of micro-loans and education for small business owners in and around the once restive city of Balad.

The grants are part of a package approved in the last several weeks by the government of Iraq. Parts of Iraq’s plan to re-energize its economy, Iraqi Emergency Relief Funds allocate money from the national government’s surplus to local leaders at the provincial level. The funds are then made available to Iraqis wishing to start up small businesses.

The micro-loans can be the deciding factor in whether a business survives. Hawed Muhammad Ayid, a well digger from Muhatta, is a recipient of a micro-loan, and plans to keep his well digging equipment up to par with the money he is loaned.

Read the rest here.