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The Central Bank announces an increase in the allocations of its initiative to small and medium enterprises
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Today, Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, announced that the Central Bank has increased the amount of its initiative to lend to small and medium enterprises by an amount of one trillion dinars, bringing the total amount allocated for this goal to two trillion dinars.
In a statement received by Al-Iqtisad News, Makheef said, "The central bank's lending initiatives contributed to supporting the industry, agriculture, housing and trade sectors, and came to constitute nearly 30% of the total credit granted to the private sector, and contributed an important percentage to the gross domestic product," noting He pointed out that there are some loans provided by the Central Bank that are granted without interest but in return for an administrative commission only, and that the one trillion dinars initiative has contributed to creating thousands of job opportunities and financing nearly three thousand housing units throughout Iraq, and its implementation rate has exceeded 90%, Which prompted us to increase its amount by an additional trillion dinars.
He added that "the monetary policy tools have greatly contributed to supporting the economy and overcoming the financial crises that occurred in the country.
It is noteworthy that the Central Bank launched multiple lending initiatives, including the initiative to finance small and medium projects and the initiative of large projects amounting to five trillion dinars to finance specialized banks, as well as three trillion dinars to support the real estate sector, and finally the clean energy initiative in the amount of one trillion dinars, bringing the total amounts allocated to development initiatives more of fifteen trillion Iraqi dinars.
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