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USAID Program in Iraq Tops $150 Million in Micro-loans
March 25, 2008The U.S. Agency for International Development (USAID) announced today that its private-sector development program in Iraq, known as Izdihar ("prosperity" in Arabic), has helped provide more than $150 million in micro-loans since the start of U.S. government microfinance assistance to Iraq in 2003. The loans, which typically range from $500 to $3,000, are primarily used by Iraqis to start or expand small businesses. The program maintains a repayment rate of nearly 99 percent.
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