Brief Press to the spokesman for the press office of the Prime Minister Dr. Saad Hudaythi

Wednesday 1 / 6 / 2016

In the name of Allah, the beneficent, the merciful
- fire government lending programme

The commitment of the government by applying the axes of the comprehensive reform programme and declared him a few months ago.

It has been approved by the cabinet in its meeting yesterday on the launch of the loan form of government sector housing, industry and agriculture by $ 6,5 trillion dinars) under the axis.

Economic Reform, which, through which the government is seeking to restructure the Iraqi economy and guidance in the form in which guarantees his whole sound and diversifying its sources and move him from a fast to my productivity and transform the economy of the state system of economic system to a system of Multi-resource my productivity. .

Come on approving the immediate release of loans to form a quantum leap in the path of the restructuring of the system of the Iraqi economy and stage of development of Africans in the path of a new vision to address the situation experienced by current and blatantly highlighted long the collapse in oil prices The Global market.

It is imperative for the government to start with radical and decisive under payment towards the recovery of the economic situation of the country. In this context we would like to point out a variety of important points regarding the government's vision and goals and mechanisms for lending:

First - regarding the vision: the government is seeking to empower the private sector took its role in promoting the economic realities of the country by overcoming difficulties, and provide the necessary cash flow through soft loans and the benefits of suitable for the rehabilitation and The establishment of modern plants and factories, and help to move the market economy, and reduce the recession that happened due to the low oil prices.

Secondly - with respect to the intended targets are as follows:

1 / provide new employment opportunities for the private sector is estimated at (250) a thousand jobs include: (Youth, alumni group, women, persons with special needs, rural population) in housing sectors, and construction, And industry, and agriculture.

2 / assistance in addressing the housing crisis, or buy more than 36000 Housing units.

3 / encourage private sector rehabilitation and operate factories stalled productivity, and modern techniques, including more than 330 plants and factories.

4 / manufacturing basic materials. and supplies industry and manufacturing agricultural and industrial sectors.

5 / promoting projects undertaken within the industrial cities.

6 / reduce the import of goods and products through the production of goods alternatives National Industrial and agricultural products and by more than 50 commodities or product Iraqi.

7 / encourage competition national export products and other states, need ten export commodities.

8/ Presentation of foreign currency legalization and reduce demand 10 %.
Thirdly - lending mechanisms, and are as follows:

1 / divide llạqrạḑ amounts allocated to different sectors as follows:

I / Housing: through housing and the land bank of 1700 billion dinars.

B / industrial sector: through the industrial bank 1650 billion dinars.

C / agricultural sector: Through Agricultural Bank 1650 billion dinars.

D / Micro Enterprise: through Civil Banks 1500 billion dinars.

2 / distributed these loans in accordance with the provincial credit plan submitted by the relevant bank and by 80 % as a criterion to the proportions of the population and 20 % as a criterion to the degree of poverty in the province.

3 / to be a student loan an Iraqi company or association or an Iraqi individual 22 years old and more and all.

4 / be interest on loans 2 % for housing loan and 4 % for the rest of the loans.

5 / be the amounts allocated to each lender to read as follows:

I / HOUSING LOAN 50 million dinars.

B / loans, industrial and agricultural sectors as follows:
Micro-loans at top 500 million dinars.

The Medium-term project loans at top 3 BILLION DINARS.
- major project loans in excess of 3 billion dinars on condition that not more than the maximum amount to 20 billion dinars.

Strategic project loans in excess of 20 billion dinars.

6 / be the duration of the repayment of the loan as follows:

I / ten years for housing loan.

B / five years for loans other than lạmhạl period of one year from the date of the first instalment of exchange student loan.

7 / competent bank launch service website and direct telephone line for the purpose of the follow-up stages of completing the borrower treated.

8/ Adoption site disclosure on the project to be funded and guarantee real estate (if any) and electronic systems and possible for oversight of projects and follow-up to their proper implementation, linking these systems for the general management of the bank, and reporting Monthly High Commission overseeing the lending programmes and published on the website of the bank and the high commission.

9 / constitute the general management of the bank monitoring committees to verify the implementation of the project and the continued work and auditing procedures for grants made by the branches of a bank or its offices.

10 / bank on updated information on the borrower periodically.

11 / the adoption of quality certification procedures for projects of borrower within this programme.