The Cabinet Secretariat sends lending mechanisms to the Central Bank of Iraq initiative

Sweeteners

2021-03-11 | 07:24

Source:

Alsumaria News

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Today, Thursday, the General Secretariat of the Council of Ministers sent to the Central Bank of Iraq a mechanism for granting loans to projects without interest or reduced interest by making use of the amounts allocated to finance these projects and supervising them with the aim of activating the private sector and facilitating its procedures.

The Secretariat said toCouncil of Ministers In a statement received by Alsumaria News, “The mechanisms stipulated that the Central Bank present a vision about the success of the salary settlement project and overcoming the challenges facing it in coordination with the competent banks, submitting them to the committee concerned with setting up mechanisms, and studying the reported request in a letter Ministry of Labor And social affairs regarding the request to allocate an amount within the initiative The Central Bank of Iraq to me Labor FundIn the ministry; In order to grant loans to the unemployed registered in the database, as well as to support the owners of creative and innovative projects, from technical and legal aspects in coordination with the Ministry of Labor and Vocational Training Department, and to present the results of the study within two weeks.

The statement added that “the mechanisms also included a study of the proposal of the advisory body and the notes of the competent banks regarding the adoption of private banks on equality with government banks in the procedures for lending and to submit the necessary proposals regarding it.”

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