Kikhany announce the launch near the Housing Fund loans in Baghdad and the provinces

(Independent) .. Minister of Construction and Housing and public municipalities Tariq Kikhany announced the launch near the Housing Fund loans for construction and renovation and purchase of residential units in Baghdad and all the provinces after the prime minister upon authentication.

He Kikhany Work is underway on the organization to grant the loan procedures, amounting to 50 million dinars after Prime Minister authentication mechanisms lend Housing Fund own get loans, the central bank's five trillion Iraqi dinars, noting that the mechanism of the distribution of the Fund's loans to the provinces will be the adoption of a standard percentage of population (80% ) and standard degree of poverty (20%) for each province.

He added that the amount of the loan would be for no longer than 50 million paid to the beneficiary in two installments and interest rate (2%) after one year grace one of the date of receipt of each batch granted for the purposes of construction and the addition of construction and grants as well as for those wishing to purchase residential units in investment complexes as he gives to rebuild units housing because of the devastating terrorist attacks.

He stressed that the distribution of the loan amount on Baghdad and the provinces will be according to population ratios and the degree of injustice as well as the mechanism of exchange of new lending transactions that have not been receiving any amount of them, as well as transactions that have been batch or two batches of which the exchange will be the conclusion of a contract or a contract with the borrower for the purpose of dues Exchange in accordance with the automatic extension new noting that the period of lending will be 10 years are restored monthly installments equal within the period with an interest rate imposed on the granting of loans ratio (2%) per annum for the benefit of the Central Bank and will housing fund the launch of the website hotline phone service for the purpose of monitoring the borrower stages of completing the treatment of loans and be a presentation through the website of the Fund without any financial payments are met.

Among Kikhany The loan is granted for the purpose of construction or add construction to those who owns a piece of residential land on the face of independence or rumored to him and not be less than earth communal space for 100 square meters and less construction area of ​​about 65 square meters does not grant the loan to build on agricultural land plots and industrial, as well as grants for those willing to buy residential units in residential complexes or investment under the investment Law which are no less net area of ​​about 65 square meters.

He explained that the loan is granted for the reconstruction of housing units because of the devastating terrorist operations and in order of priority starting with the ceilings of demolished housing units in full. (End)