Project Bloom enters second phase with 100 new projects
"Project Bloom is one of the key initiatives of the ninth cabinet, designed to empower business owners by providing interest-free loans ranging from 1 million to 150 million Iraqi dinars," he stated.
ERBIL (Kurdistan24) – The Kurdistan Regional Government (KRG) is set to launch the second phase of Project Bloom, a major economic initiative aimed at supporting small and medium-sized enterprises (SMEs). According to Aram Anwar, Director of Project Bloom in the Ministry of Labor and Social Affairs, 100 projects will receive funding under this phase.
Speaking to Kurdistan24 on Thursday, Anwar highlighted the government’s commitment to fostering economic growth and entrepreneurship. "Project Bloom is one of the key initiatives of the ninth cabinet, designed to empower business owners by providing interest-free loans ranging from 1 million to 150 million Iraqi dinars," he stated.
Anwar emphasized that financial support will enable entrepreneurs to expand and sustain their businesses, with a particular focus on strengthening local industries. He further noted that applicants must be residents of the Kurdistan Region, with their businesses based within the region and no older than 60 years.
For agricultural projects, applicants are required to submit a letter from the Ministry of Agriculture and Water Resources, along with ministry guidelines and a project proposal.
Project Bloom, overseen by the Ministry of Labor and Social Affairs, is one of the most significant economic programs under the current administration. To qualify, businesses must have been operating for at least 12 months, employ fewer than 100 people, and be officially registered with the General Directorate of Companies Registration of the KRG. Additionally, applicants must possess a Unique Personal Number (UPN) and a Unique Unit Number (UEN).
With the launch of this second phase, the KRG continues to demonstrate its commitment to economic development, job creation, and the empowerment of local businesses through accessible financial support.
