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Agriculture announces the granting of central bank lending mechanisms
7/16/2016 0:00
[rtl] BAGHDAD - morning ,
announced the Ministry of Agriculture mechanisms granting the Central Bank of theprojects loans Alzeraih.aota this at a time when stop the movement of poultry between provinces of Baghdad, Wasit , to prevent the spread of bird flu in the country , it decided after logging injuries in northern Wasit. Form E - official spokesman for the ministry spokesman Hamid Naif noted the committee formed for this purpose has completed thepreparation of guidelines and instructions, according to its duties and mechanisms oflending approved by the Prime Minister was preparing a detailed report for thepreparatory phase. He said in a statement «morning» received a copy of it, that the Ministry of Agriculture circulated the mechanics of launching the electronic forms ofagricultural loans to All departments and companies and its directorates, pointing out that the presentation is through the electronic format for the site of the Committee and after the acceptance of the project is the introduction to the ACB. He revealed recap lending mechanisms for small projects that it will be 500 million dinars medium - sized enterprises (3) billion dinars for projects large in excess of 3 billion dinars and not morethan (20) billion dinars strategic projects that more than 20 billion dinars, as it will be theloan term (5) years , except for a period of grace for a period of one year, indicating that the loans were distributed to the provinces takes place on according to the credit plan by the competent bank and 80 percent as a benchmark for rates of spatial and 20 percent as the standard for the degree of poverty in the province. Terms of loans As for theconditions of access to agricultural loans, he explained that controls confirm that the loan is called an Iraqi company, association , or individual - old at least ( 22) years old and afull - fledged, with a feasibility study for the project , which increases the loan to (KD 150 million) of registered consulting office at the Ministry of planning , or any competent authority and certified after it verified the bank borrower 's request and completed requirements raise the request to the Supreme Committee for recommendation foradoption and ratification as well as the adoption of a vacation project window as non -objection from the relevant authorities to the project in order to grant the loan by thebank agricultural. as the owner of the project beneficiary of the loan offers, according toNaif, an insurance policy issued by an Iraqi company, and that the loan will contribute 80 percent of the cost of the project that is the implementation of 20 percent of the cost of the project as a condition for lending, with the possibility of issuing a preliminary approval on lending by the direct project the requirement to provide the borrower bank guarantee equal to 5 percent of the cost of speculative after the completion of 20 percent of theproject. for loans and on according to Naif, the term of the loan will be 5 years with aperiod of grace of one year from the day the first batch of student exchange loan, to be the interest rate on loans granted to projects percentage (4%) per annum. He pointed out that the process of obtaining the loan are made after the completion of all approvals of the project, calling on all investors to benefit from these loans to contribute to the development of the agricultural sector and down to achieve sufficiency and self.[/rtl]
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