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Agricultural Credit Fund
Author: [You must be registered and logged in to see this link.] 28/11/2017 12:00 AM [rtl]When approved the law of the concessional agricultural lending fund No. 28 for the year 2009 was working with the specialized lending funds of the agricultural initiative launched by the Iraqi government since 1/8/2008 in its beginnings. Then we asked about the feasibility of establishing such a fund and working in five specialized funds to support the loans of "livestock - mechanization and modern irrigation methods - small farmers - palm development - major agricultural projects." These funds continued to be supported by allocations at the end of each financial year for capital, with new allocations from subsequent years to accumulate support funds, until the total disbursement of these funds reached about three trillions of dinars before the support stopped nearly two years ago. We knew that the agricultural initiative came as an immediate and temporary measure to lift the agricultural sector out of the disaster of inheritance and that the renewal of work was due to the good results achieved by the emergence of local agricultural products in the markets, after the importer dominated the supply of goods, Working with specialized funds and disabling the implementation of the law of the Agricultural Credit Fund Facilitator No. 28 of 2009. After about three years on the suspension of the new allocations of agricultural lending funds and about nine years to enact the law of the soft lending fund, the Higher Committee of the Agricultural Initiative decided to implement the provisions of this law, the Ministry of Finance to deviate funds allocated to specialized lending funds for the agricultural initiative and the funds recovered, Loans disbursed in the Ministry of Agriculture and Ministry of Marshlands canceled to the capital of the Agricultural Lending Fund, which means the end of the agricultural initiative. But there is a question here about the functions of this fund, which has been and continues to be the Agricultural Agricultural Bank since its establishment in 1935, in the summary of the law and the reasons for positive reference to support farmers and small farmers through soft loans to help them and the development and development of rural and agriculture, 1- First, that he "shall be linked to the Ministry of Finance and shall have the moral personality and shall be represented by the Minister of Finance or whoever authorizes him" Which means that as we move towards a market economy will end the role of the Agricultural Bank and turn into a commercial bank practicing comprehensive banking just to have this fund an executive body and therefore the Agricultural Bank will be a candidate and strongly for the restructuring program.[/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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