Specialist: Consolidated loans involve the private sector for reconstruction
24/1/2018 12:00 am
[rtl]BAGHDAD / Mustafa al-Hashemi
The news started to indicate the wishes of several major industrial countries such as Germany and France in the reconstruction of the country, especially after the preparations for the Iraq reconstruction conference in Kuwait in February and these countries - according to specialist - know that reconstruction means to move their economies and industries and improve the incomes of citizens and modify Balance of payments for projects to be implemented in accordance with government contracts. Sharpening the impact of the academic economist Dr. Issam Mohammed Hassan that "the calculations of those countries are accurate in the field of reconstruction, which makes it not only sharpen the now, but since the terrorism hit cities from Iraq, to ensure later its share in the operation and start the reconstruction movement in the areas destroyed by Terrorism ".
"These countries will submit their bids for their construction and industrial companies in order to start the work and operation phase," Hassan explained. "The problem of financing new projects will appear especially in the financing and supervision of payment." Government funding continued "The answer to some will be ready, which is the government according to the payment mechanisms known for infrastructure projects," explaining that "the government comes from the funding of oil resources or the sale of sovereign bonds, any borrowing." "The possibility of breaking the axioms of these ideas with a new idea to contribute to the government and the involvement of the private sector financially in the reconstruction through the establishment of a banking committee of private banks for the purpose of financial contribution to the process of providing liquidity to the government and the adoption of the method of syndicated loans." Banking committees
Hassan suggested that "the committee consists of all private banks and with the approval of the Ministry of Finance to contribute each bank a certain amount of money to be funded projects that the government believes that they benefit from this funding available by local banks to take their role seriously in the development process."
And the need to "participate in the financial discussions that will be entered by the government with foreign banks for the purpose of fixing the mechanisms of financing and exchange of foreign banks have the expertise can be used and used in this area, and get the banks in the Commission on the profits in accordance with the agreement with the government."
He pointed out that "this committee will be a fund (fund), which collects contributions and then disbursement according to the government perspective, which will make private banks stand in the line of the first reconstruction of her country to launch through it to the portal of real development in its new role.[/rtl]
Specialist: Consolidated loans involve the private sector for reconstruction[/rtl]