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Document: The Prime Minister agrees to the Iraqi Trade Bank to launch small and medium loans
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Got "Economy News" on the document confirms the approval of the Prime Minister to the Iraqi Trade Bank to participate in the initiative of the Central Bank to lend to small and medium enterprises.
"The Prime Minister's approval was obtained on the recommendations of the advisors' committee in our office contained in the Authority's letter no.
The bank will lend investors and businessmen to small and medium enterprises and re-run the stalled factories under certain conditions.
The document indicates that the most important of these conditions "80% of the project is financed after completion of 20% by the investor and that the repayment period of the loan (10) years with periods of repayment only for the first and second years depending on the opening of the credit and the value of the credit itself, and at interest Annual not more than 3%.
The rest of the conditions relate to "the project to be a guarantor of 75% of its value and not to impose any fees other than the fees to open the credit recognized."
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