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Sponsored and with the participation of the Association of Iraqi Private Banks in a workshop to activate lending programs to finance small and medium enterprises in Iraq, which was held by the Ministry of Planning / Central Statistical Organization. In cooperation with the United Nations Development Program and hosted by the Iraqi Association for Statistical Sciences, Mr. Shirwan Anwar Mustafa, the program director, participated and explained in detail about the justifications and objectives of the program in activating lending in Iraq. .
He explained that "governmental and private banks were able to lend about 26,052 small and medium projects and employ 60,000 unemployed workers and 150,000 housing projects until 30/6/2022, according to the official data of the Central Bank of Iraq, indicating that "these projects are agricultural, industrial, commercial, service and housing projects."
He added, "The total number of initiatives launched by the Central Bank from 2016 to 2022 amounted to about 18 trillion dinars, and the total amounts of loans disbursed amounted to (9.5) trillion dinars, and the percentage of loans granted out of the total allocated is 53%. These initiatives contributed to stimulating the economy and revitalizing the economic cycle, as they are It constituted more than 30% of the total cash credit granted to the private sector, more than 8% of the gross domestic product, 17% of the total private sector deposits, and 18.4% of the actual investment spending. To a ceiling of 20 billion dinars for each major project that contributes to development.”, pointing out that “this initiative had an effective impact in supporting the national economy in conditions of economic shocks and economic stagnation, and creating job opportunities for youth and graduates” and craftsmen.
Al-Nusairi stressed, “The Central Bank launched a new initiative to finance renewable energy projects, and allocated one trillion dinars to it in support of the electricity sector. For one time only, he also issued new instructions to reduce all the interests of loans for small and medium enterprises and in the manner of decreasing interest for the purpose of supporting these projects. "Housing loans were also included without interest and with a commission for one time only."
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