Governmental efforts to provide 250 thousand jobs in the private sector

[ltr]Governmental efforts to provide 250 thousand jobs in the private sector[/ltr]

 Since 06/01/2016 20:42 pm (Baghdad time)
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[ltr]BAGHDAD - balances News[/ltr]
[ltr]The Iraqi government announced on Wednesday its quest to provide 250 thousand new jobs in the private sector, according to the government's new lending program.[/ltr]
[ltr]Information Office of the Prime Minister Haider al-Abadi, said in a statement received / balances News /, a copy of it, he was "an obligation of the government to implement a comprehensive reform program announced by a few months before the axes of the Council of Ministers approved in its meeting yesterday at the launch of the government loan to the sectors of housing, industry form and Agriculture in the amount of "6.5 trillion dinars," in the context of economic reform, the focus of which is seeking through the government to restructure the Iraqi economy and guidance that will ensure his stay on a sound footing and to diversify its sources, and transportation of the economy of a yield to the productive economy and the transformation of the economic system of the State of the consumer system to a multi-production system resources. "[/ltr]
[ltr]He added that "the approval of the direct firing of loans came 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 that currently afflicting that have emerged in traveled far the collapse in oil prices in global markets, which makes it imperative for the government to start the course processors radical and decisive in the context of pushing for the recovery of the economic situation of the country. "[/ltr]

[ltr]The below points concerning inter vision of the government and the objectives and mechanisms of lending:[/ltr]

[ltr]I. regarding Vision: The government seeks to enable the private sector to take its role in the advancement of the economic reality of the country by overcoming the difficulties it faces, and to provide cash needed through soft loans and benefits suitable for rehabilitation and the establishment of factories and modern laboratories, and helping to move the market economy, and reduce the recession, which happened due to lower oil prices.[/ltr]

[ltr]Second in terms of the objectives are as follows:[/ltr]

[ltr]1 / providing new business opportunities for the private sector is estimated at 250 thousand jobs include: (youth category, class graduates, women breadwinners, people with special needs, rural) in the housing sectors of the population, construction, industry, and agriculture.[/ltr]

[ltr]2 / assistance in dealing with the housing crisis, establish or buy more than 36,000 housing units.[/ltr]

[ltr]3 / encourage the private sector to rehabilitate and operate laboratories productivity stalled, and the introduction of modern technologies, including more than 330 plants and factories.[/ltr]

[ltr]4 / manufacture of raw materials and supplies industry and industries for agricultural and industrial manufacturing.[/ltr]

[ltr]5 / encourage projects that take place within the industrial cities.[/ltr]

[ltr]6 / reduce the import of goods and products through alternatives goods Iraqi national industry and agricultural products production, including more than 50 Iraqis commodity or product.[/ltr]

[ltr]7 / promotion of national exports competitive products and goods of other countries, producing ten of goods for export.[/ltr]

[ltr]8 / legalization of foreign currency supply and reduce the demand by 10%.[/ltr]

[ltr]III lending mechanisms, which are as follows:[/ltr]

[ltr]1 / divides the proportion of lending to different sectors amounts as follows:[/ltr]

[ltr]A / housing sector: through the housing fund and bank mortgage billion dinars in 1700.[/ltr]

[ltr]B / industrial sector: through the Industrial Bank 1650 billion dinars.[/ltr]

[ltr]C / agricultural sector: through the Agricultural Bank in 1650 billion dinars.[/ltr]

[ltr]D / micro-enterprises: by private banks in 1500 billion dinars.[/ltr]

[ltr]2 / distribute these loans to the provinces in accordance with the credit plan offered by the bank concerned and 80% as a standard population ratios and 20% as the standard for the degree of poverty in the province.[/ltr]

[ltr]3 / to be a student loan of Iraqi society or individual Iraqis age 22 and older and full-fledged company.[/ltr]

[ltr]4 / are interest on loans 2% loan for the housing sector and 4% for the rest of the loans.[/ltr]

[ltr]5 / it is allocated to each of the loan amounts as follows:[/ltr]

[ltr]A / housing loan of 50 million dinars.[/ltr]

[ltr]B / industrial and agricultural sectors loans as follows:[/ltr]

[ltr]- Small business loans up to a maximum of 500 million dinars.[/ltr]

[ltr]- SME loans a maximum of three billion dinars.[/ltr]

[ltr]- Major projects in excess of three billion dinars loans on condition that the upper limit has not to exceed 20 billion dinars.[/ltr]

[ltr]- Strategic projects that more than 20 billion dinars loans.[/ltr]

[ltr]6 / The term of repayment of the loan as follows:[/ltr]

[ltr]A / ten years for the housing loan.[/ltr]

[ltr]B / five years for other loans except for the grace period of one year from the date of the first payment to a student loan disbursement.[/ltr]

[ltr]7 / The designated bank launched a Website hotline phone service for the purpose of monitoring the borrower stages of completing his treatment.[/ltr]

[ltr]8 / adoption of on-site detection of the project to be financed and the guarantee of real estate (if any) and on the electronic possible in order to control projects and follow-up of good execution systems, linking 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 .[/ltr]

[ltr]9 / General Directorate of 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 bank branches or offices procedures.[/ltr]

[ltr]10 / The bank concerned update information of the borrower on a regular basis.[/ltr]

[ltr]11 / adoption grant quality certification for projects within this program borrowed ".anthy 29 / GS 18 procedures[/ltr]




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