Abadi Office confirms the government's efforts to enable the private sector and explains the mechanism of government loans extended {}


History of edits:: 2016/6/1 18:53 • 40 visits readable
{Baghdad} Euphrates News said the media spokesman for the office of Prime Minister Saad al-Hadithi, the government seeks to enable the private sector to take its role in the advancement of the economic reality of the country as to explain the mechanism of government loans approved by the Council of Ministers meeting on Tuesday.

A newborn in a press briefing on Wednesday that the "commitment of the government to implement a comprehensive reform program, which announced a few months ago axes Cabinet has agreed in its meeting yesterday to launch a Government loan to the sectors of housing, industry and agriculture form the amount of $ {6.5 trillion dinars} as part of the focus of economic reform, which seeks through the government to restructure the Iraqi economy and guidance that will ensure his stay on the basis of sound and diversify its economy, and transportation of a yield to the productive economy and the transformation of the economic system of the State of the consumer system to multi-resource production system. "

He added, "The approval comes on the immediate launch of loans to constitute a quantum leap in the restructuring of the system of the Iraqi economy and the stage milestone in the path of the development of a new vision to address the situation of imbalance that currently afflicting that have emerged in traveled far the collapse in oil prices in world markets, which makes it imperative for the government to start the course processors radical and decisive as part payment towards the recovery of the economic situation of the country. "

And between, he said, "In this context we would like to point out a number of important points regarding the Government's vision and objectives and mechanisms of lending: It is with respect to the vision: the government is seeking to enable the private sector to take its role in the advancement of the economic reality of the country by overcoming the difficulties it faces, and to provide the necessary liquidity through soft loans and benefits suitable for rehabilitation and the establishment of modern factories and laboratories, and helping to move the market economy, and reduce the recession, which happened due to lower oil prices.

He said, he was "in relation to the objectives they are providing new business opportunities for the private sector is estimated at {250} thousand jobs include: {the youth category, class graduates, women breadwinners, people with special needs, the rural population} in the housing sectors, construction, industry, and Agriculture and assistance in dealing with the housing crisis, establish or purchase of more than 36,000 housing units and to encourage the private sector to rehabilitate and operate laboratories productivity stalled, and the introduction of modern technologies, including more than 330 plants and factories and processing of raw materials and supplies industry and industries for agricultural and industrial manufacturing and encourage projects that take place within the industrial cities ".

He went on saying that "the goals also include reducing the import of goods and products through alternatives of goods national industry Iraqi agricultural products production, including more than 50 product or an Iraqi product and promote national exports competitive products and goods of other countries, producing ten of goods for export and legalization of foreign currency supply and reduce the demand by 10%. "

As for lending mechanisms between the newborn by saying that "the mechanism include divide the proportion allocated to borrow on different sectors amounts as: housing sector: through the Housing Fund and the bank's real estate 1700 billion dinars., The industrial sector: through the Industrial Bank 1650 billion dinars, the agricultural sector: through the agricultural Bank in 1650 billion dinars, micro-enterprises: by private banks in 1500 billion dinars. "

He pointed out that "these loans are distributed to the provinces according to the credit of a plan submitted by the concerned bank and 80% as a benchmark for rates of population and 20% as the standard for the degree of poverty in the province and to be a student loan Iraqi company, association, or individual Iraqis aged 22 and above and the entire civil and be of interest on loans of 2% for the loan of the housing sector and 4% for the rest of the loans also be allocated for each loan amounts as: Housing loan of 50 million dinars, industrial and agricultural sectors loans as follows: - small business loans up to a maximum of 500 million dinars {SME loans a maximum of three billion dinars} {loans of major projects in excess of three billion dinars provided it does not exceed its upper limit of 20 billion dinars} {loans strategic projects that more than 20 billion dinars} the term of repayment of the loan as follows: {ten years for loan Housing}

And {to five years for loans other except for a period of grace for a period of one year from the date of the first batch of student loan disbursement}. "

He continued by saying that "the concerned bank will launch the website hotline phone service for the purpose of monitoring the borrower stages of completion of treatment and support on-site detection of the project to be financed and the guarantee of real estate {if any} and Electronic systems and possible in order to control projects and follow-up of good implementation, and link these systems administration public Bank, and provide monthly reports of the Supreme Committee supervising the lending programs and posted on the bank's website Supreme Committee with the General administration of Bank committees constitute a follow-up to verify the proper implementation of the project and the continuation of his work and scrutiny of grants made by the procedures. "

He concluded by saying that "either bank branches or offices whatsoever, the bank concerned update information of the borrower on a regular basis and depends granting quality projects borrowed certification procedures within this Albornamj.anthy

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