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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Central Bank loans to projects increased by 139%.. But: a complete absence of the growth of small pr

    Rocky
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    • Post n°1

    Central Bank loans to projects increased by 139%.. But: a complete absence of the growth of small pr Empty Central Bank loans to projects increased by 139%.. But: a complete absence of the growth of small pr

    Post by Rocky Tue 23 Nov 2021, 7:14 am


    [size=30]Central Bank loans to projects increased by 139%.. But: a complete absence of the growth of small projects

    2021-11-23
    [/size]
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    Yes Iraq: Baghdad

    The Iraq Future Foundation for Studies revealed that the percentage of loans granted by the Central Bank increased by 139 percent, noting that despite this, these loans did not lead to a reduction in poverty or the impact of the opening of projects on the non-oil domestic product.
    And the director of the institution, Manar Al-Obaidi, said in a clarification that he followed, “Yes Iraq”, that “the percentage of loans granted by the Central Bank of Iraq increased from the beginning of 2020 until October 2021, to reach 4.5 trillion Iraqi dinars, with an annual increase of 139% and a monthly increase of 15.55%.”
    He added, "The Central Bank has put forward a set of initiatives to support small and medium enterprises, in addition to an initiative to support industrial projects and housing projects, which led to a rise in loans granted by the Central Bank of Iraq," noting that "the value of the loans granted represents 3% of the total assets of the Central Bank of Iraq." .
    It is clear that "despite the many obstacles in granting the required loans and guarantees, which may be incapacitating in some of them, the low interest rate and long loan periods contributed to an increase in the rate of obtaining these loans."
    He pointed out that "despite the growth in the percentage of loans granted, there are no clear indications of the impact of these loans on increasing the domestic product from the non-oil sectors, or on reducing unemployment rates, which are still low."
    And he indicated that "despite the high value of loans, micro-enterprises, which represent the biggest factor in creating different job opportunities for a large segment of young people, are still below the standard, and that most of the funds go to large projects and do not take into account the mechanisms of encouraging and creating job opportunities for various small segments, which suffers from poverty and unemployment.
    He stressed that "finding mechanisms to lend to youth to set up micro-enterprises is the best solution to provide various job opportunities far from the public sector and contribute to increasing the domestic product of the retail and service sectors away from the oil sector and contribute to reducing unemployment levels that are still high."
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