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Finance: Loans financed by the Central Bank contribute to the movement of the economy and development
[You must be registered and logged in to see this link.]September 8, 2022
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The Ministry of Finance stressed the importance of the loan initiatives funded by the Central Bank of Iraq in moving the wheel of development and the national economy, while it disclosed the details of the farmers' loans.
And the advisor to the Minister of Finance, Abdul Hassan Jamal, stated, “The launch of loans by the Central Bank and the government is to move the wheel of the economy and development, as these funds are allocated to various sectors and cover the economic deficit that causes the national economy to slack from growth,” except that “the initiatives of agricultural, industrial and housing loans That will move the wheel of the economy.”
He added, "Industrial and agricultural loans benefited from the change in the currency exchange rate, because imported goods increased their prices and the local national product competed with the prices of those goods and merchandise," calling on capital owners, industrialists and traders to apply for these loans and start operating factories, poultry fields, cow farms and calves because Local prices are now available for these sectors.”
Regarding the farmers’ loans, the director of the Agricultural Bank Agency explained, “The agricultural initiative loans were launched years ago, and they are available in all our branches according to the laws of the general budget.”
He added, “Paying the agricultural initiative loans annually goes back to the provisions of the budget law, and we have about one trillion and 600 billion dinars distributed to farmers,” noting that “the postponement of the payment of these loans according to the budget law, makes it impossible for us to deliver new loans to other farmers without recovering the money of those loans.” .
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