The German Ambassador reaffirms her country's commitment to promoting economic growth in Iraq

Baghdad-INA

The German Ambassador to Iraq, Christine Hohmann, explained on Monday, the details of the new agreement signed with Iraq, affirming her country’s commitment to enhancing economic growth in Iraq.
 
"The driving forces are the reason behind Germany's commitment to Iraq to promote economic growth, create jobs and contribute to social cohesion, safety, and stability," said Hohmann, during the signing of the Agreement on the Program to Contribute to the Recovery of the Iraqi Economy by Creating Opportunities and Revitalizing the Local Economy, which was attended by the Iraqi News Agency-INA Reporter.
 
"Prime Minister Muhammad Shiaa Al-Sudani agreed with Chancellor Scholz in Berlin during his last visit on an ambitious German-Iraqi work program,” she added. “It is not surprising that most of the points in this program cover economic issues with a focus on the private sector and job creation."
 
She pointed out that, "Since 2014, Germany has contributed with more than 3.7 billion US dollars to reconstruction and development in Iraq, and in 2023 Germany has allocated more than 125 million US dollars to support economic development, enhance job opportunities, address the impact of climate change, and support Iraq's reconstruction efforts."
 
She continued: “We are witnessing the signing of another commitment which worth $25 million to to the IOM Enterprise Development Fund through the German Development Bank,” stressing that “Germany has been an active supporter of financing the Enterprise Development Fund since its launch in 2018.”
 
"Proud to say that since then, the Enterprise Development Fund-EDF has helped create more than 11,000 new jobs and improved more than 12,000 already existing jobs for both host communities, returnees and displaced persons."
 
She also noted that "The Agreement and the new commitment will be in three different areas, First, individual assistance to improve income, including through support for small enterprises or start-ups as well as on-the-job and vocational training, Second, support for SMEs to promote jobs and create prospects for cooperation third, to support short-term employment, activities and public works with a focus on vulnerable communities ".
"These events are being carried out in cooperation with the Iraqi Government, local authorities, private sector partners, local universities, and local and international NGOs, all of which must be relevant and part of the work to ensure impact", the ambassador mentioned.
 
"After five years of work, we can build on lessons learned and a lot of experience, as IOM has been and remains a valuable partner in this regard," Homann added. 
 
Ambassador Homann lauded the efforts exerted by IOM’s staff, concluding her speech by saying: over the years, and together with our distinguished partners in the Iraqi Government, we will continue to promote joint efforts to achieve a better future for the country's youth. "