Parliamentary Finance: three proposals on agricultural and industrial loans

History of edits:: 2015/9/19 10:45

Parliamentary Finance: three proposals on agricultural and industrial loans
{Baghdad: Euphrates News} said the parliamentary Finance Committee member Jabbar al-Abadi, on Saturday, that the committee has three proposals on industrial and agricultural loans include not granting loans and high dependence on investors in the projects stroll to the completion of certain ratios.

He said al-Abadi told {Euphrates News} "The Finance Committee of the generated three proposals on soft loans and to serve as non-performing loans is high, and rely on investors in the stroll projects to certain ratios, as suggested by the clear text of the arbitration between the two adversaries of the investor and the other end and not to put reliance on the Iraqi courts. "

He noted that "the importance of distinguishing between land arising out of investment projects rates, there Lands expensive price and other less expensive."

The Cabinet had earlier announced the launch of granting industrial and agricultural loan and housing mechanisms at the center of economic reform approved by the crisis cell at the center of economic reform to stimulate the economy in the country and run the unemployed, has acknowledged the crisis cell at its sixth meeting on 08.24.2015 headed by Prime Minister lending mechanism in the industrial, agricultural and housing area, which will be awarded in accordance with the instructions issued by the Central Bank and other banks.

At the forefront of the mechanisms may be granted a loan from the central bank for each specialist {agricultural, industrial, real estate, and housing fund bank} for five years, including a grace period for {6} months, extendable to five years with the approval of the Central Bank at the request of the borrower's bank or Alsndouk.

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