Iraqi Kurdistan Offers Loans to Tourism Sector
To keep up with its quickly growing tourism sector, the Iraqi Kurdistan Regional Government has begun offering loans to those wishing to build hotels and other touristic facilities.
The Kurdistan Regional Government (KRG) of Iraq has begun issuing loans to citizens wishing to launch tourism ventures, especially in areas far from the region’s major city centers, such as Erbil, Sulaimaniyah and Dahuk. This step aims to develop the KRG's growing tourism sector and attracting more tourists to the area.
The KRG has repeatedly announced the development of its tourism sector as a priority and a part of a strategic plan to encourage foreign companies to invest in this sector. The KRG has organized several international conferences to develop this sector, inviting foreign and local experts to attend. They have also invited investors and company owners to take a look at the investment opportunities available in the Kurdistan region.
Maulvi Jabbar Wahab, chairman of the General Authority for Tourism (GAT) in the Kurdistan region, announced a July conference in London to introduce the Kurdistan tourism sector to British companies, hoping to foster relations and cooperation.
In a statement to Al-Monitor, Nader Roustai, spokesman for the GAT at the KRG Ministry of Municipalities and Tourism, said, “This measure aims at developing the tourism profession among citizens, and strives to promote further interest in this sector and develop it through modern projects. This is why the KRG has announced that it will grant loans to citizens willing to carry out tourism projects in the region.”
