Babylon University launches Central Bank loans for graduates to support small and medium enterprises

Babylon University launches Central Bank loans for graduates to support small and medium enterprises

Author: AB, IM

Editor: AB 03/03/2016 18:25 

Long-Presse / Babylon

University of Babylon launched on Thursday, the Central Bank of graduate-school loans to support small and medium-sized projects, amounting to 50 million dinars for the project, and identified the 30th of the month this March as the deadline to apply for these loans, while confirming that the loans will be granted by the central bank after the submission of the university feasibility study projects submitted by graduates.

The head of the University of Babylon Adil Hadi al-Baghdadi, in a statement received (range Press), a copy of which, "The university administration has launched loans allocated by the Council of Ministers for small and medium-graduates, amounting to a trillion and a half trillion dinars out of six trillion dinars for the sectors of agriculture, industry, commerce, housing, in order to rehabilitate and graduate prepared for work in the private sector. "

He said al-Baghdadi, that "the grant of such loans will be made by the Central Bank of Iraq, after the university offers a feasibility study of the projects presented by the graduates," calling on graduates of the University of Babylon to "take advantage of these loans."

And the President of the University of Babylon, "the 30th of the month this March as the deadline to apply for these loans through private banks in the province of Babylon," pointing out that "earmarked for small amounts will reach 50 million per project."

He said al-Baghdadi, that "can a group of graduates to apply for one loan, up to 100 million dinars, the average of the project," stressing that "the repayment of the loan will be in the form of easy installments, provided that these projects be consistent and compatible with the labor market."

The statement quoted the director of quality assurance and performance of university teacher assistant Sana Salman Shendi saying, "The wishing Apply for loans reviewing calculators mail center in the presidency of the university, and bring support graduated from the University of Babylon certified by the clerk college amended graduate them and pledged pledging to being unemployed the work".

She Shendi, that "Raghib must submit a feasibility study of a mini project loan, in addition to the support brought housing with four archives and two passport photos."

Turn Training and Employment Division at the university official Hadi Khalif Hegel said, according to the statement, "The single loan amount of 50 million dinars, and can be increased to 100 million dinars, if this is the project of the distinctive development projects."

Hegel said, that "the payment of the loan amount will be over five years the amount of interest does not exceed 4%," noting that "the recovery of the loan is to start six months after the receipt of payment."

The Central Bank of Iraq, said in (the 23 of June 2015), the launch of the loan amounts medium and small enterprises by the Iraqi private banks beginning in July 2015, while between the loan amounts of up to 50 million dinars, he stressed that banks benefit will not exceed 5.5% .

The cell, the governmental crisis, headed by Prime Minister Haider al-Abadi acknowledged, in August 2015, the lending program, which is funded by the Iraqi Central Bank amounting to five trillion dinars, distributed by 33% to agricultural and industrial banks and 17% for each of the Land Bank and housing fund, as well as financing bank Central banks own an amount trillion dinars for the implementation of small and medium enterprises.

The CBI count, in September 2015, that the granting of small, medium and large enterprise loans will develop the national economy and assured banks that they will bring back citizens' confidence and trust, and while calling an expert to facilitate the task of borrowers through the mechanisms of "modern and flexible" far from "the quota system and the mafias of corruption", criticized Last divided being "did not take into account" the country's needs and priorities of citizens.