Abadi office: the government's goal of launching 6.5 trillion dinars of loans is economic reform

BAGHDAD - Iraq Press - June 2: Counting the Information Office of the Prime Minister, Haider al - Abadi, that the launch of residential, industrial and agricultural loans, amounting to 6 trillion and 500 billion dinars, constitutes a "quantum leap" for the restructuring of the Iraqi economy and address the "imbalance" suffered by currently, he is indicating that it aims to enable the private sector to take the role for the advancement of economic reality and overcome the difficulties they are facing, and to provide cash needed for the rehabilitation or the establishment of new factories and plants, and reduce the recession - induced decline in oil prices.

A spokesman for the office, Saad al - Hadithi, in a press briefing that , on Wednesday evening, " The government has launched a program of lending, its commitment to the application of the comprehensive reform program announced by a few months ago hubs", noting that " the Council of Ministers approved in its meeting on Tuesday (31st from May 2016), to launch a government loan to the sectors of housing, industry and agriculture form in the amount of six trillion and 500 billion dinars, in the context of economic reform , which seeks through the government to restructure the Iraqi economy and guidance that will ensure his stay on a sound footing, and diversify and move from an economy axis Rei into a productive, the transformation of the economic system of the State of the consumer system to a multi - resource production system. "

The newborn, " The approval comes on the immediate launch of loans to constitute a quantum leap in the restructuring of the system of the Iraqi economy and the stage milestone in the path of the development of a new vision to address the situation of imbalance which is currently suffering from that emerged almost traveled far the collapse in oil prices in global markets , which makes it imperative for the government track start processors radical and decisive in the context of pushing for the recovery of the economic situation of the country , "noting that" the government 's vision in this regard is to enable the private sector to take a role in promoting the economic reality of the country by overcoming the difficulties it faces, and to provide cash needed through soft loans , the benefits of appropriate for the rehabilitation or the establishment of new factories and plants, and helping to move the market economy, and reduce the recession , which happened due to lower oil prices. "

He explained the spokesman, that "the objectives of the loan is to provide new job opportunities for the private sector is estimated at 250 thousand jobs , including young people, graduates, women breadwinners, people with special needs, and the rural population, in the housing sectors, construction, industry and agriculture, as well as help address the housing crisis, the administration or the purchase of more than 36 thousand units , "pointing to" the government also aims to encourage the private sector to rehabilitate and operate laboratories productivity stalled. "

According to Sabri, that " the government is also trying to introduce modern techniques , including more than 330 plants or factories, and manufacturing of raw materials and supplies industry and industries for agricultural and industrial manufacturing, and encourage projects that take place within the industrial cities, and reduce the import of goods and products through alternatives of goods of national industry and the products are produced Iraqi agricultural including more than 50 commodity or an Iraqi product , "pointing out that" the targets also include promoting national exports competitive products and goods of other countries, producing ten of goods for export, and the legalization of foreign currency supply and reduce the demand for them by ten percent. "

And on the lending mechanisms, said a spokesman for the Information Office of the devotional, it "includes splitting the proportion allocated to lend money to the various sectors and the first of the housing sector, through the allocation of a thousand and 700 billion dinars for the housing fund and the bank 's real estate, and the second is the industrial sector, which has been designated a thousand and 650 billion dinars during the industrial Bank, and the third of the agricultural sector, the allocation of a and 650 other dinars billion agricultural bank, to allocate thousand and 500 billion dinars microenterprise through the private banks , "stressing that" the distribution of those loans to the provinces will be on according to the credit of a plan submitted by the concerned bank and by 80 percent as a benchmark for rates of population and 20 percent as the standard for the degree of poverty in the province, and that the student loan Iraqi or association or individual Iraqis aged 22 years and over the company eligibility and complete, and that the interest on loans for the housing sector be increased by two percent and four percent for the rest of the species. "

He continued newborn, that " the amounts allocated for each loan to be by 50 million dinars for housing, while be the industrial and agricultural sectors loans by 500 million dinars a maximum of small businesses, and three billion dinars maximum medium enterprises, to be awarded major projects worth more than three billion dinars, loans are not worth more than 20 billion dinars maximum, "Msttrda that" the payment of strategic projects that more than 20 billion dinars loans, to be in ten years for a loan housing, and five years for other loans except the grace period in the amount of one year from the date of the first installment disbursement of student loan. "

He added the spokesman, that " the concerned bank should be the launch of the website hotline phone to follow up on the borrower stages of completing his treatment service, with the adoption of on- site detection of the project to be financed and the guarantee of real estate, if any, and electronic systems and the potential for the control of projects and follow - up of good implementation, and to link these systems the general management of the Bank, and to provide monthly reports of the Supreme Committee supervising the lending programs and posted on the bank 's site and the High Commission, with the overall management of the bank committees constitute a follow - up to verify the proper implementation of the project and the continuation of his work and scrutiny of grants made ​​by the procedures. "

The Prime Minister Haider al - Abadi, honest ( the ninth of March 2016), the private lending mechanisms housing fund loans , the central bank's five trillion Iraqi dinars.

He announced the Cabinet, in the (31st May 2016), the launch of the distribution of land to citizens in a manner and installment terms "soft. Q ended

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.iraqpressagency.com