Housing Fund distributes 8 billion dinars out of 42 billion on 500 borrowers in Diwaniya

August 07, 2016

Housing Fund in the Ministry of construction and housing, municipalities, the distribution of eight billion dinars out of 42 billion dinars to 500 borrowers in Diwaniya, indicating that the Central Bank has allocated 850 billion dinars to distribute to the provinces, while conservative administration came to contribute to move almost crippled economic activity and provide liquidity in markets.

He said the Fund's Director General, Bahauddin Mustafa, to Diwaniyah Manager distributed 500 dinars, worth eight billion instrument on borrowers, indicating that the "Fund allocated to Diwaniya 42 billion dinars for the current 2016 to support the financial crisis".

Mustafa added that "Iraqi Central Bank 850 billion dinars was allocated to the Fund to distribute loans boil provincial," eligible to "distribute payments on borrowers who completed the administrative and legal procedures for their own".

Governor of Diwaniyah, said Sami Hasnaoui, that "the commitment of the Housing Fund to provide loans to citizens as a positive step, contributing to some extent to move almost crippled economic activity in the province, and provide liquidity in the market," he said, adding that "the bureaucracy suffers from lack of funds for non-receipt of funds allocated to balance the development of the territories, and the lack of additional resources that can contribute to save her from poverty.