Money in one of the private banks
Network "microfinance" lend 500 thousand Iraqi dinars 98 billion and calls on the government to contribute funding
Editor: BK, RS
Long-Presse / Baghdad
Revealed an Iraqi involved in the financing of small enterprises, on Saturday, announced that it has lent half a million people a sum of approximately 98 billion dinars since its founding in 2009, and called on the government to help them finance to enable it to expand its activities, the mechanisms of "simplified and legal safeguards soft", while stressing senior adviser to Prime Government, directing the Ministry of Labour and Social Affairs to support small loans to secure more job opportunities for citizens and attract unemployed youth about relieving the pressure on the government.
This came during a conference held by the Iraqi network of microfinance, today, in the Palestine Hotel, the center of Baghdad, to discuss the reality of small loans in the country, and attended (range Press).
A member of the network, Hussein Abdel-Karim, said in an interview to the (long-Presse), that "the geographical spread of financial institutions, donors, such as banks or financial firms, is still a little bit because of the red tape and capital," adding that "the network, which consists of nine community banks lent Since its inception in 2009, and even now, half a million people, an amount of approximately 98 billion dinars. "
Abdul Karim added, that "the network is seeking to fund half a million citizen others during the next two years," noting that "the success of the borrowers in securing their projects encouraged citizens to request small loans."
The member of the network, that "half a million borrower does not constitute something for the size of the young people who are unemployed in Iraq," calling on the government to "help the network through funding to enable them to lend more willing to establish small-scale projects, the according mechanisms simplified and legal safeguards soft" .
For his part, Thamer Ghadhban, head of the advisers in the Prime Minister's Office, in an interview to the (long-Presse), if there is a "tendency of the government to support small loans through the Ministry of Labour and Social Affairs to cover various activities, whether service or business, etc., and believes more job opportunities for citizens. "
Anger promised, that "securing loans involves another advantage as well as increased income, is attracting young unemployed, which is compounded numbering day after day, and relieves pressure on the government and its ministries, which is now filled with staff."
The Ministry of Labour and Social Affairs has resumed, mid-June 2013 the past, receiving applications for soft loans for the unemployed in Baghdad and the provinces, in amounts ranging from five to 20 million dinars, indicating that the 150 billion dinars allocated to cover these loans during the year 2014 the current.
He also states that the project (trade) of the U.S. Agency for International Development, is to support the establishment of the Iraqi network of microfinance, to add more "power infrastructure for the microfinance industry in Iraq," and the provision of services that aim to "expand the capacity of microfinance institutions and speed up the implementation process best practices emerging, "and to promote" an evolving environment to enable the project and the involvement of government regulators regarding the policies that aim to build an inclusive financial sector in Iraq, "and be" an important link between donors and microfinance institutions, "as announced by the U.S. Agency at a time earlier.