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| Iraq |
| Council hosts Micro-Grant Meeting |
| 2007-06-24 |
| Local Iraqi government officials and Multi-National Division –Baghdad Soldiers hosted a micro grant meeting for the Doura Market Complex at the Rashid District Council Hall in the southern portion of the Iraqi capital June 21. The meeting, hosted by the Rashid District Council and the 2nd Battalion, 12th Infantry Regiment, 2nd Infantry Division, was held to encourage owners and vendors in the Doura Market to return and reopen their shops. During the meeting called by Sabeeh Al Ka’abi Rashid District Council Chairman and leadership and Al Rashid Chamber of Commerce, 2-12 Inf. Regt. “Warriors” collected and processed applications for 43 qualified Iraqi shop owners for Commanders Emergency Response Program Micro Grants. “The Micro Grant program gives local nationals access to capital, up to $2,500, or ‘items in kind,’” said Maj. Rick Banks, 4th Infantry Brigade Combat Team, civil military officer. “For example, instead of giving them cash to buy an oven, we buy them an oven. The hope is that this infusion of money will assist them in getting a small business started or keeping a small business going. Once the business is going smoothly, they may be self sufficient, or have enough capital or assets on hand to increase the size of the business, and thereby increase employment.” “Without this program, it is difficult for local nationals to acquire capital since there is not yet a robust banking system in Iraq as you would find in most ‘western’ countries,” he added. All shop owners at the meeting had their fingers printed, retinas scanned and their pictures taken as part of a census to ensure no funds would be paid to terrorist organizations. Micro grants and micro banks can have just an amazing impact on an economy. A great secret is that the vast majority of employment and most growth in most countries is in small business. |
| Posted by:Anonymoose |
| #1 Small business is the key to everything, almost. |
| Posted by: newc 2007-06-24 20:55 |