Baghdad – Guarantor-free loans for young entrepreneurs are at the center of a new financial initiative in Iraq. The government announced plans to launch this program in the coming weeks. It aims to help young Iraqis start businesses without needing a guarantor.
Applicants can now secure loans of up to 350 million Iraqi dinars. Most importantly, they won’t need a government employee to co-sign. Instead, their business project will act as the financial guarantee. This shift in policy could unlock major opportunities for ambitious youth.
According to officials, this approach supports economic inclusion and self-employment. It also encourages innovation across different sectors. By removing the guarantor requirement, Iraq hopes to ease access to funding.
Before receiving money, applicants must complete an intensive training course. This course spans several weeks and focuses on real business development. It covers planning, technical studies, market research, and customer engagement strategies.
Participants will work with experts from Iraq and international institutions. Trainers from the International Labour Organization and the German Development Bank will lead sessions. The Iraqi Company for Guarantees also plays a role in this partnership.
Only those who finish the course successfully will receive funding. This requirement ensures every entrepreneur has the tools to succeed. As a result, the program promotes sustainability and long-term economic growth.
Moreover, training strengthens business skills and minimizes the risk of failure. It prepares youth to navigate market challenges with knowledge and confidence.
The government believes this plan will spark a wave of innovation. Thousands of young people could soon become business owners. That, in turn, may reduce unemployment and boost local economies.
Guarantor-free loans for young entrepreneurs are more than a financial tool. They represent a cultural and economic shift. Iraq is investing in youth to lead the next chapter of development.
Officials say the program is a first step toward deeper reforms. More supportive policies will follow if this effort proves successful.
With strong partnerships and a clear vision, guarantor-free loans for young entrepreneurs may help transform Iraq’s future.
