[size=30]An Iraqi Ministry puts two proposals before the Finance: Your money is not enough for us[/size][You must be registered and logged in to see this image.]
The Undersecretary of the Ministry, Mahdi al-Jubouri, said in a statement to NRT Arabia, October 1, 2021, that "the most important thing that supports the agricultural sector is the financial resources that are made through agricultural loans," noting that "agricultural projects need capital, as there are two ways for this." The matter: the first is investment to finance projects, and the other is the agricultural loan route.
Al-Jubouri added, "The agricultural initiative that was launched in 2008 stopped in 2015 and at that time it activated the agricultural sector by spending two trillion dinars for it," noting that "the agricultural initiative was transformed into the Facilitated Agricultural Lending Fund that was developed within the federal budget items and managed by Ministry of Finance".
He explained, "The Ministry offered the Finance two options, either managing the fund by the finance and operating it, or transferring the management of the fund to the Ministry of Agriculture and amending the Facilitated Agricultural Lending Fund Law," noting that "at the present time, the fund is managed by the Ministry of Finance until 12/31/2021." according to the annual budget.
Al-Jubouri pointed out that "Finance approved an amount of 50 billion dinars to the Ministry of Agriculture, and these amounts have not been spent so far," stressing that "the amounts allocated for lending are very few and cover only a small part of agricultural projects, including the poultry and livestock sector, which needs large funds. ".
He stressed the need to "launch the Agricultural Lending Fund for 2022 under the management of the Ministry of Agriculture, with a capital of 250 billion dinars, in addition to the refund from the agricultural initiative belonging to the Agricultural Lending Fund," noting that "the amount of 50 billion dinars so far has not been disbursed to the lending fund, which is between the Ministry of Finance and the Agricultural Bank, because the money as cash was not available to the Ministry of Agriculture.”
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