Federation of Industries proposes to lend a vital project in 2000 and calls for the involvement of "Project map"


Baghdad / long - Presse

Counting the National Business Council, yesterday, Sunday, that the loan program launched by the government resulting from its proposals to the government and parliament, and with the Iraqi Federation of Industries stressed the need to use it to develop a way for projects that should be lending to first map, a proposal to start two thousand vital project first to enable them to contribute to the promotion of income National and operates the largest number of the labor force, and attributed the economist delayed the launch of the program for the routine and the presence of the sought for "obstructing" the advancement of the Iraqi economy and domestic production.

The head of the National Business Council David Abdul Zayer, in an interview to the (long-Presse), "The economic restructuring program recently launched by the government caused mainly by a proposal from the private sector to the Council of Ministers and the Economic Commission of the Council of Representatives," noting that "the loan launched cabinet aimed at modernizing the production of the private industrial sector and encourage domestic production lines. "

The Information Office of the Prime Minister Haider al-Abadi has been counted, on Wednesday, (the first of June 2016), that the launch of residential, industrial and agricultural loans, amounting to six trillion and 500 billion dinars, constitutes a "quantum leap" for the restructuring of the Iraqi economy and address the "imbalance" suffered by currently, he is indicating that it aims to enable the private sector to take the role for the advancement of economic reality and overcome the difficulties they are facing, and to provide cash needed for the rehabilitation or the establishment of new factories and plants, and reduce the recession-induced decline in oil prices.

In turn, the head of the Iraqi Federation of Industries Ali Sabih al-Saadi, said in an interview to the (long-Presse), "The priority of the Union are the projects that were discussed with the government, such as construction and food manufacturing industries," calling on the government to "engage the Union in developing a roadmap for projects It should begin lend first, after he had participated with them in the preliminary steps and gave her a vision and agreed with them to represent him in the top two members of the Committee on this. "

The al-Saadi, the need to "use of government the Federation of Industries in the steps aimed to revive the private industrial sector instead of the others are not interested," attributing the reasons that "the Union has 12 varieties and the Board of Directors comprises 12 members from the stakeholders and oversees the 50 thousand industrial project."

Promised Prime Federation of Industries, said: "33% of the loans made by the government was insufficient for the advancement of the private industrial sector," calling "to start lending to two thousand a vital project first to enable them to contribute to the promotion of national income and operates the largest number of workers, to be thinking of other projects Later".

And include the distribution of loans mechanism, according to the Information Office of the Prime Minister, a division devoted to the various sectors and the first of the housing funds, through the allocation of a thousand and 700 billion dinars for the housing fund and the bank's real estate, and the second is the industrial sector, which has been designated a thousand and 650 billion dinars during the Industrial Bank, and the third sector agricultural, allocating thousand and 650 billion dinars other agricultural bank, to allocate thousand and 500 billion dinars microenterprise through private banks.

As will be those loans distributed to the provinces according to credit plan offered by the competent bank by 80% as a benchmark for rates of population and 20% as the standard for the degree of poverty in the province, and that the student loan Iraqi or association or individual Iraqis aged 22 years and over the company eligibility and complete, and be interest on loans for the housing sector increased by two percent and four percent for the rest of the species.

In turn, the economic expert on behalf of Anton, in an interview to the (long-Presse), "The government loans approved nine months ago after his Prime Minister's Office software, to revive the industrial, agricultural and tourism sectors," attributing the reasons for the delay to "a few customizations launched by the Central Bank of Iraq ".

He Anton, he expressed regret for "faltering loans and delay as a result of the presence of the red tape and sought to obstruct the advancement of the Iraqi economy and domestic production."

He said economic expert, that "the Council of Ministers also approved the electronic card to follow up on loans in order to prevent corruption that has tainted", describing them as "a good step, but came too late."

Anton pointed out, that "the private industrial sector identified the priorities of those loans such as projects with large employment and those that substitute for imports and add to GDP," Mady said, "but the problem lies in the limited allocated to the industrial sector and insufficient loans, which requires a package of measures to support the the industrial sector, including electricity and infrastructure in industrial zones and not to handcuff the demands of those loans and guarantees are impossible to provide. "

The CBI had announced in (the 23 of June 2015), the launch of the loan amounts medium and small enterprises by the Iraqi private banks beginning in July 2015, while between the loan amounts of up to 50 million dinars, he stressed that banks benefit will not exceed 5.5 percent.

It is noteworthy that the Iraqi private banks association, announced (13 September 2015), the Central Bank announced the launch of an increase of half a trillion dinars, the budget allocated to the financing of small and medium enterprises, to stimulate the private sector and promote employment opportunities for young people.