A proposal to establish a fund the implementation of projects co-financed

A proposal to establish a fund the implementation of projects co-financed





21/05/2013 12:00 AM

Adopted by the government and private banks

BAGHDAD - Hussein ثغب of Tamimi
Financial expert stressed Shirvan Anwar Mustafa on the importance of building a new model of lending to finance strategic projects through the capital contributed by several banks that are selected one of the banks to take capital management for strategic project funded.
Two types of lending

He added in an interview (morning) that this model is on two types of lending, the first to be capital formation from several banks to finance a large project meaningful economic actors stems from planning and consulting of bodies specialized type of product or service that belong to the project, while the other type is represented lending project already exists on the ground and needs to be capital, pointing out that the management of these projects like this carries a lot of pros, where there will be a phased implementation according to the specifications of quality outlined in the draft assignment, because the private sector more effectively and quickly to contain the problems facing the stages implementation of the project where the decision is in tune with the needs of the project within a few time.

Ambitious targets

He said Mustafa had been put forward the idea by the Association of private banks in Iraq to the Trade Bank of Iraq to set up a fund to contribute private banks in the capital formation to finance large projects be independent of management and the Board of Directors, which oversees the fund, and this idea was تدارسها recently with the administration of the Iraqi bank Trade and results suggest the possibility of cooperation with the bank in achieving the objective of the idea, pointing to the existence of another line with the Rasheed Bank where the idea of ​​cooperation in the establishment of a fund like the one released on the Trade Bank of Iraq and discussed the idea in Erbil with the bank and communicate continuously to agree on a mechanism suitable employment verification goal towards the implementation of actual projects on the ground.

Productive projects

He said these trends are not ideas will crystallize in the coming period to productivity and service projects promote the local economy, noting that the private banking sector more seriously in the implementation of projects financed by private banks.
He said that such projects carry a lot of pros and there are sincere desires by some private banks to set up so a new port to work and to engage in effective field of economics and real.
He pointed to the importance of activating the idea of ​​implementing large projects supervised by the banking sector and private sector stakeholders in the country Monetary Central Bank and the Trade Bank of Iraq and the banks, Rafidain and Rasheed, where it requires the formation of specialized committees by these parties for the advancement of the local economy.

Great experiences

He said that joint ventures need to manage characterized by extensive experience in this side positioned to reach the desired goals of this cooperation and here to be the availability of qualified technical and management on the high degree of expertise, pointing to the importance of investment efforts of experts who occupy different positions in private banks to participate in the management of Thus projects or make them advisers for such ideas, which includes the private banks, a large number of experts on the high degree of expertise by virtue of their long service in the public and private sectors.
Contain the unemployed

He said Mustafa that such projects contribute greatly to contain the economic problems with a significant effect on the lives of citizens, as it works to contain a large number of unemployed and the implementation of real projects on the ground and activate the banking activity, explaining that this model has achieved great success at the level of small and medium-sized enterprises in all provinces and helped to develop the productivity of service projects of great economic feasibility, which encouraged the private sector to adopt these banking experience in large projects.

Specialized companies

Mustafa concluded by saying that the economic sector in general needs to be the search for treatments for the overall economic problems by adopting companies specialized economic affairs advisory to contribute to the accurate diagnosis and determine the effective economic development data.

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