Labour Exchange Announces 212 billion dinars to support small and Industry will support industrial projects as a key partner and strategic



19/02/2017 05:30 | Number of Views: 1




Press direction - Private



Announced operating and loan department of the Ministry of Labour and Social Affairs, Sunday, for exchange 291 billion dinars in loans, while considered the Ministry of Industry and Minerals, the private sector and industrialists and strategically a key partner for the public sector

A spokesman for the Ministry of Labour Ammar Menem, in a statement, received "direction Press", a copy of the loan disbursement was by 79 billion dinars within the national strategic program for poverty alleviation, for the period from 2012 up to 2016, and 212 billion dinars within the fund program for small income-generating projects to support for the period from 2013 up to 2016.

The statement said that "the disbursement had distributed 212 billion dinars, of which almost among the more than 23,000 job seekers registered in operating loans department database within the Fund program to support small income-generating projects, and according to specific recording mechanism that are recovered amounts from borrowers Yearly over five years. "

The statement added that "the 79 billion remaining dinars have been distributed in accordance with the concessional lending program within the strategy of poverty alleviation, which included the first seven of the poorest provinces, namely, (Muthanna, Wasit, Karbala, Salah al-Din, and Babil and Diyala, Diwaniyah), then the coverage all provinces except the province of Kurdistan. "


The statement noted that "the number of beneficiaries reached (11100) borrower, these amounts to be recovered in the form of annual payments for eight years, and that these loans are granted without financial benefit."


For its part, it expressed the Ministry of Industry and Minerals keenness on supporting the private sector and industrialists as a key strategic partner for the public sector in line government and orientation in light of the challenges faced by the Iraqi industry over the past years the difficult economic conditions that Amrabha country. "


According to a ministry statement received "direction Press", a copy of the Undersecretary of the Ministry of Industry and Minerals Planning Mohammad Hashim Abdul Majid discussed with Industrial Bank Director Bilal al-Hamdani, the ways and mechanisms of action to finance industrial projects.


He showed al-Majid, the ministry is ready by the departments concerned to develop appropriate and effective mechanism in accordance with instructions and the central laws in force in order to serve both sides. "

For his part, Director of the Industrial Bank, "according to the ministry statement," a serious desire for cooperation with the Ministry of Industry and Minerals through open an industrial bank in the ministry and he is currently the first step towards the liberalization of other industrial projects between the two sides.

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