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


 

History of edits:: 06/01/2016 18:5359 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 thegovernment to implement a comprehensive reform program , which announced afew months ago axes Cabinet has agreed in its meeting yesterday to launch aGovernment loan to the sectors of housing, industry and agriculture form theamount 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 diversifying its sources , and transportation of the economy of a yield to the productive economy and thetransformation of the economic system of the State of the consumer system to amulti – resource production system. ”
He added,” the approval comes on the immediate launch of loans to constitute aquantum leap in the restructuring of the system of the Iraqi economy and thestage milestone in the path of the development of a new vision to address thesituation of imbalance that currently afflicting that have emerged in traveled far the collapse in oil prices in world markets , which makes it imperative for thegovernment to begin processors radical and decisive part payment path toward the recovery of the economic situation of the country. ”
between,” 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 cash needed through soft loans and benefits suitable for rehabilitation and the establishment of factories and modern laboratories, and helping to move the market economy, and reduce the recession , which happened due to lower oil prices.
he said, that “with respect to the objectives are to provide jobs new 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, agriculture and assistance in dealing with the housing crisis, establish or buy 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 the lending mechanisms between the newborn by saying that ” themechanism include divide the proportion allocated to borrow on different sectors amounts as: housing sector: through the Housing Fund and the bank mortgage billion dinars in 1700. , 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 in accordance with the credit plan offered by specialist 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 years and older and full civil and be the interest rate on loans of 2% for the loan of the housing sector and 4% for the rest of the loans as be allocated toeach of the loan amounts as: Housing loan of 50 million dinars, industrial and agricultural sectors loans as follows: – small business loans up to a maximum of500 million dinars {SME loans a maximum of three billion dinars} {loans of major projects in excess of 3 billion dinars provided it does not exceed the upper limit of its 20 billion dinars} {loans strategic projects that more than 20 billion dinars} the term of repayment of the loan as follows: {ten years for the loan of Housing}
and {five years for loans other except for a period of grace for a period of one year as of the date for payment first to the student loan}. ”
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 oftreatment and support on- site detection of the project to be financed and the guarantee of real estate {if any} and the electronic potential of the regulations inorder to control projects and follow – up of good implementation, and link these systems of public administration of the bank, and provide monthly reports of theSupreme 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 theproject and the continuation of his work and scrutiny of grants made by theprocedures . ” .
he concluded by saying that “either bank branches or offices whatsoever , thebank 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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