Government fears hamper the launch of 6 trillion to support the private sector

Government fears hamper the launch of 6 trillion to support the private sector



Abadi, during a meeting with the private sector delegation Economic Organizations for Investment and Reconstruction

Writer:
Editor: HH
12/06/2016 00:10


Long-Presse / Baghdad

The Iraqi government fears that the launch of the Central Bank's initiative to fund agriculture, industry, housing and real estate sectors, amounting to 6 trillion dinars, for not she went into the pockets of corrupt and disable its real feasibility of which is to achieve economic development through tightened wishing to borrow.

And classified loans to projects agricultural and industrial sectors into four categories, the first micro-enterprise loans, grants have a maximum amount of 500 million dinars, and the second a maximum of three billion medium enterprise loans, and the third a maximum of $ 20 billion in large projects loans, the fourth strategic projects loans exceeding 20 twenty billion dinars. The interest rate on loans of 4% annually.

He attributed the spokesman of the Ministry of Planning, Abdul Zahra al-Hindawi government's delay in the launch of loans to citizens for fear of not achieving economic development through she went into the pockets of the wrong people.

Hindawi said in his speech for the "long", he said that "the central bank initiative was launched more than a year the amount of 6 trillion dinars for lending to industrial and agricultural sectors and housing, but the main problem behind the non-activated controls are," noting that "the work is to develop special controls and access to treatments for the granting of loans through state banks. "

He stressed that "the main problem behind the lack of launch loans to she went not to its rightful owners so competent Committee decided to loans on who wants to borrow provide guarantees for projects to achieve the development objective to get the economy moving," adding that "the country is suffering from a housing crisis and the initiative of the central bank include the construction and purchase Housing units".

He pointed out that "after the launch of loans and activating the industrial and agricultural projects could alleviate poverty ratios of 30% and unemployment of 20%, through the operation of labor and reduce imports through local product protection."

But the men of the Iraqi Business Federation, a non-governmental organization, stressed that the delay in the launch of loans due to the weakness of the heads of specialized banks and not having the qualifications to deal with such a major initiative.

The head of the Businessmen Union, Reza Ragheb Blibl, "long" that "the initiative launched by the Central Bank to finance the private sector to activate the industry, agriculture and housing sectors Off the lack of turnout by the citizens and entrepreneurs the truth because of the complex procedures established by the Iraqi government," asserting that "the industrial sector was allocated 1.350 billion dollars, but the mines that have been developed in the conditions have not benefited the industrial sector."

"The government changed the banks directors after pressure from institutions and economic organizations and brought people sincerely, but do not have the qualifications that they can implement so important economic initiatives," explaining that "the industrial sector so far has not taken any loan until the production and employment."

He explained that "some of the conditions can not be achieved at the moment of which must be the owner of the loan owns commercial real estate or industrial to be a guarantor to repay the money," noting that "The second flaw respect that any person who imports equipment and machinery must Tsord as the Industrial Bank."

He pointed out that "the granting of loans to the industrial and agricultural real can contribute to the development of the economy and are sometimes called by some people haphazardly that the funds and loans will go to the minor things like buying a car and renovate the home and elsewhere."

Economists commented on concern the government not to launch such loans, said economist Salam Ismail "long", said that "Iraq has not utilized a lot of the loans that went mostly into the pockets of corrupt in the past years," stressing that "the establishment of any industrial or agricultural project Iraqis will serve through the operation of labor and thus not to import goods from neighboring countries and reflects positively on the growth in the economy. "

He pointed out that "no-government loans is a good thing, in order that the money go to people who have projects is a fake, especially that some of the senior spoilers trying acquisition of these loans."

..salam Of Zidane

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