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Housing Fund: Allocating 750 billion dinars for individual lending at a value of (60) million each
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Economy News - Baghdad
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Added 12/13/2023 - 11:08 AM
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Economy News - Baghdad
The Ministry of Construction, Housing and Public Municipalities announced, on Wednesday, the approval of the Housing Fund’s Board of Trustees of the Fund’s lending plan for the year 2024, which includes allocating (750) billion dinars for individual lending at (12,500) loans, with a value of (60) million dinars per loan.
The Ministry's media center stated that an amount of (150) billion dinars was allocated to the residential complexes that are being implemented by the Ministry of Construction for employees, and the Council also agreed to increase the lending ceiling from the Fund for the purpose of purchasing residential units from complexes that are being implemented by public companies for employees, by an amount of ( 100 million dinars, with a repayment period of (20) years.
About a year ago, the Iraqi government proposed the “Dari” project in an attempt to solve the worsening housing crisis, and about three million citizens applied through the electronic platform to obtain a plot of land, which will often be on the outskirts of cities, to create new cities that will need infrastructure and business markets.
It is noteworthy that Iraq is suffering from a stifling housing crisis due to the increase in its population compared to the number of residential complexes, in addition to the inability of citizens with limited income to build their own housing unit due to the high cost of land and construction materials.
The Ministry of Construction and Housing estimates that Iraq needs more than three million housing units to meet the housing crisis in the country.
Views 36
Added 12/13/2023 - 11:08 AM
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