Abadi adviser Aosb central continually project financing program

Thursday 15-10-2015 | 2:04:05

Twilight News / recommended to the Prime Minister for Financial Affairs Advisor to the appearance of Mohammed Saleh on Thursday, the Central Bank of Iraq to continue his program to finance small and medium projects to citizens and lend loans again after recovery, to stimulate the economic cycle, pointing out that this program can promise nucleus for the establishment of a permanent development fund or development bank contribute to the international organizations in the future.

Saleh said in a statement responded to Twilight News, "suggested the allocation of part of the loans this program for about 154 public company as it can be for some of them to take advantage of this loan, and become profitable companies after promotion funding and technology to solve problems and give an important boost to the national economy, both within the industrial sector or the agricultural or housing. "

He added that "these companies have known assets and has nearly a half million workers," adding that "the proponents of this regardless of the fate of the ownership of these companies that are being rehabilitated and re-define the pattern of ownership among the public remain or be mixed or contribution or privatization of some of them."

Salih stressed that "should be an information base for all borrowers under this program to build regardless of the information in the banking system, and use this information to control, audit and follow-up both enter into this program and held accountable in the event of non-achievement of the project, which took the loan on the basis, to ensure high efficiency in achieving the objectives of the program and prevent these funds go to speculators rather than real producers. "

And between Saleh, a deputy governor of the Central Bank of the former that the "six trillions launched by the central bank to the market to break out of the trap of liquidity and stimulate the economy, equivalent to about 16% of the money supply, and this means that the monetary and political trends in the country has seen a shift in the light of the national economy, who lives recession conditions At present, after that monetary policy has in past years to address the Tckm a state of instability but recession and unemployment suffered by the Iraqi economy also are a state of instability, then the central bank should address Mekusat inflation, which tackled him previously. "

Saleh said that "the launch of one trillion to finance small and medium enterprise loans through private banks is supposed to be characterized by active banks and credit record and stable financing, an important measure can be developed as a tool to encourage successful banks".