The General Manager of Credit Control of Banking in the Central Bank of Iraq, Ehsan Al-Shammari issued a press statement that Iraqi Central Bank has planned to start distribution of loans in the sector of Industrial and Agricultural sectors to the beneficiaries in the recent month.
Al-Shammari further said in his statement that Iraqi Central Bank has taken all the initiatives in order to support small, medium and enterprise businesses in the sectors of Industrial, Housing and Agricultural. The amount of at least 1 trillion Iraqi dinars has been allocated for the distribution in first of 2 stages for these sectors. He added that at least 5 trillion Iraqi dinars have been allocated for the second stage.
He indicated that at least 6 trillion Iraqi dinars will be used to enhance the fluidity of Iraqi governmental and private banks. He added that more than 5 trillion Iraqi dinars have dedicated for the sectors of Housing, Agriculture and Industry. He confirmed that all the initiatives have been taken from the Office of Iraqi Prime Minister and the Iraqi Central Bank. He mentioned that first step was initiated a couple of months ago and the second step took place a couple of weeks ago. He stressed that Iraqi government and the Central Bank of Iraq have adopted a number of mechanisms to control the initiated procedures. He added that the beneficiaries will be able to get loans from Iraqi banks in the current month. The procedure of getting loans is very simple and easy.