The Iraqi government has announced a significant new program aimed at bolstering female entrepreneurship across the country. In a statement on Wednesday, Prime Minister Mohammed Shia Al-Sudani unveiled the Basmat (Fingerprint) Initiative, a strategic partnership with national banks to provide soft loans for women establishing small and medium-sized enterprises (SMEs).
The Prime Minister affirmed the government’s commitment to women’s economic empowerment as a core component of its strategy to reduce unemployment and create new job opportunities. He highlighted that this initiative aligns with broader national efforts to support women, including the establishment of the Higher Council for Women.
A National Push for Economic Empowerment
The Basmat Initiative is designed to enhance women’s participation in the economy and strengthen their role in national development. It builds on the momentum of previous programs, such as the “Riyada” (Entrepreneurship) Initiative, which has already attracted over 500,000 young Iraqis, with women constituting a notable 27% of all applicants.
Al-Sudani emphasised that the government will complement the financial support from these loans with dedicated training, advisory services, and support platforms to ensure the long-term success of the women-led projects.
Public-Private Partnership in Action
A key feature of the Basmat Initiative is its collaborative model, bringing together government support and private sector execution. The Prime Minister praised the crucial role of Iraq’s private sector, particularly the national banks involved, in backing the program and driving its mission forward.
This partnership aims to create a supportive ecosystem where female entrepreneurs can access not only capital but also the financial expertise and networks of established banking institutions.
Targeted Support and Simplified Access
The initiative will finance a diverse portfolio of women-led projects across productive, service, and technical sectors. This includes ventures in home-based food production, tailoring, small-scale e-commerce, agriculture, women’s service centers, childcare facilities, and various design-related businesses.
To ensure wide accessibility, the loans will be offered under simplified conditions specifically tailored to the unique needs and challenges faced by women running small and medium-sized enterprises.
About the Basmat Initiative
The Basmat (Fingerprint) Initiative is an Iraqi national program launched by the Prime Minister’s Office to provide soft loans to women for establishing and growing small and medium-sized projects. In cooperation with national banks, the initiative aims to boost women’s economic participation, reduce unemployment, and foster sustainable development by offering financial support, training, and advisory services to female entrepreneurs across various sectors.
Source: Prime Minister’s Office
