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Economy News – Baghdad
The General Secretariat of the Council of Ministers held, on Tuesday, a special meeting to discuss the loan package recently launched by the Central Bank.
The General Secretariat said in a statement seen by “Al-Eqtisad News”, that the Secretary-General of the Council of Ministers, Hamid Al-Ghazi heads “the agenda of the committee concerned with setting up a mechanism for granting loans to projects without interest or reduced interest, within the initiative of the Central Bank of Iraq in cooperation and coordination with government banks.”
According to the statement, Al-Ghazi stressed that “the initiative aims to revitalize the private economic sector and facilitate procedures related to granting loans, and benefit from the amounts allocated to finance projects, according to the facilities approved by the committee during its previous meetings.”
The meeting witnessed the discussion of “proposals and studies submitted by a number of ministries and institutions, pertaining to their employees, and mechanisms for lending agricultural projects modified by the sub-committee, which will contribute to providing appropriate facilities to borrowers.”
The committee also discussed, “the proposal of the advisory body, regarding the amendment of the lending procedures for the approval of private banks on par with government banks, and the inclusion of all proposals in the recommendations for the purpose of approval and referred to the relevant authorities to act accordingly.”