Housing Fund: We will give loans to those wishing to buy residential units of investment projects

Dated: Tuesday 06/21/2016 3:44
Follow-up / Iraq today

Housing Fund announced that he will give loans to citizens who wish to purchase housing units of investment projects, at a time confirmed the allocation of 850 billion dinars for the Fund for lending to citizens, revealed its demand for the allocation of 500 billion dinars annually to finance the lending process.

He said the fund manager of the Ministry of Construction and Housing spokesman Bahaa El Din Moustafa, "The Fund has no authority to grant loans to citizens to buy housing units, but the new initiative of the Council of Ministers on the granting of 850 billion dinars by the Central Bank allowed to provide loans for the purchase of residential units in completed and indexed investment projects in the investment Authority as a Basmaja.

"He added Mustafa" the loan, which will be presented to the citizens for the purchase of these units will be around 50 million dinars, according to the controls that came in, "adding," we are talking about saving three million housing units and the possibility to rise to three million and 500 housing units. "

He continued Mustafa "The Fund demanded the ministry and the cabinet study a fixed allocation for the Fund of $ 500 billion dinars annually is allocated by the central bank," he said. "this money will be loaned to the citizens who want to build housing units and at the same time it will be reassuring for citizens who buy land and then build later by the fund "

is noteworthy that Iraq suffers from a severe housing crisis due to the growing number of Iraq's population, compared with the number of residential complexes, in addition to the inability of citizens with limited income from the construction of its own housing units because of the high cost of land and construction materials.