Ministry of Planning controls investment projects financed on credit within budget ..
The Ministry of Planning controls investment projects financed on credit within the budget of next year 2016.
11/29/2015 0 Comments
Ministry spokesman Hbd Zahra al-Hindawi said that the interest rate for these projects must be no more than 6% and is calculated on the basis of disbursements of all loan and not on the basis of the total amount, noting that allowing the loan period should not be less than two years after the completion of the project in It was determined to repay the loan period of between 3-5 years minimum and semi-annual installments. And al-Hindawi said that bids be submitted by funded companies must clearly indicate the interest rate and the duration of the repayment period to allow and as well as the necessity that the company is willing to provide financing offers three (commercial -ffine - funding. According to Hindawi, "the finance on credit includes new projects in ministries and provinces in the service and production fields, including water and sewage systems, hospitals, roads, bridges, land reclamation and projects of agriculture and water resources projects, provided that these projects are included in the investment budget of the Ministry of Planning." And it will include funding as well as any new projects again meet the listing requirements and ratified by the Council of Ministers in accordance with the controls have been identified, including the commitment to a sequence of priorities for the type of project as well as projects of the same class and agreed between the Ministry of Planning and Implementing Agency. And required in these projects are not the physical achievement of the project not less than 50 per cent, as well as cases approved by the Council of Ministers.