Labour launches industrial loans in four provinces

2016/7/13 14:09

[Where - Baghdad]

The Ministry of Labour and Social Affairs, on Wednesday, announced the launch of industrial loans in the four provinces.

A spokesman for the Ministry of Labour Ammar Menem, in a statement received by all of Iraq [where] a copy of it today that "the ministry has launched a new meal for industrial services in the four provinces of loans, a Babylon, Karbala, Wasit and Dhi Qar."

He said Menem said "the number of loans in these provinces has 105 out of 500 loan and one loan amount ranging between 3-10 million dinars," stressing that "the Loan Fund Management in the Ministry of Labor and Social Affairs has allocated five billion dinars Industrial Services and Fund Management opened loans for the four provinces, starting on Sunday, July 10th until the 20th of July of this, which can be extended, "pointing out that" the distribution of quotas was by 30 loan to Karbala, 30 loan to Babylon, and 22 loan for Wasit, and 23 loan him who Qar " .

Menem pointed out that "the presentation will be to hold a license to practice from the Ministry of Labor and Social Affairs in addition to some of the points and preference, and that the loan amount will be between $ 3-10 million dinars with the deduction of 3% management fees."

For his part, Head of the Department to support small income-generating projects in operation and loans department of the Ministry of Labour and Social Affairs Atef Ahmed Abdul Amir that he "will be awarded to the beneficiary a year and allow the installment amount in five installments over five years." He pointed out that "the number of loans granted by the Fund since 2015, has so far reached 250 loans in Baghdad and the provinces with the exception of the Kurdistan region."

Abdul Amir pointed out that "the ministry recovered about nine billion dinars of the meal No. 15 with the recovery of six billion dinars from the meal 16," explaining that "the ministry recover every two or three months about five billion dinars of loans granted to enable it to launch a new meal loans. "