Creating a better economic future for young people in Iraq
Title: Privat sector development and employment promotion / economic (re-)integration of young people (PSD Project)
Commissioned by: German Federal Ministry for Economic Cooperation and Development (BMZ)
Co-funded by: European Union (EU)
Lead executing agency: Deputy Prime Minister’s Office for Economic Affairs (Iraq), Ministry of Planning (Iraq)
Overall term: 2017 to 2024
Iraq is facing a worsening economic crisis. This has been exacerbated by instability, the consequences of the SARS-CoV-2 pandemic as well as an unchanged heavy dependence on oil and an extensively subsidised public sector. As a result, Iraq’s private sector contribution to economic output and employment is low. In particular, the prospects of youth, including returnees, are limited. Vocational education and training could only be maintained to a limited extent in recent years, making it difficult for young people to enter the labour market.
The economic policy foundations for a growth-oriented business and investment climate as well as employment prospects in the private sector for young Iraqis have improved.
To support the Government of Iraq (GoI) and create employment and business opportunities for the Iraqi people, the project links interventions at the policy level with measures to improve the service provision of key stakeholders (e.g., line ministries, training institutions and chambers). It also works to promote the delivery of support measures to jobseekers and entrepreneurs. The project follows two main approaches:
- Economic policy advice is given to consolidate the ability of the government partners to develop fact-based economic policymaking, to foster public-private dialogues, to engage business associations, civil society organisations and academia as well as to promote business integrity.
- An integrated employment approach that is directed at young Iraqi entrepreneurs and jobseekers, especially women and returnees. It combines labour market-driven skills development, job placement measures, entrepreneurship development and advisory services for micro, small and medium-sized enterprises (MSMEs). The project also helps business development service providers and universities to improve their services.
Last update: Mai 2021