The Central Bank announces the success of its initiative to solve the housing problem

Central Bank of Iraq building
 
09/01/2021

Economy News - Baghdad

The Central Bank of Iraq announced the success of its housing initiative, which developed quick solutions to the housing crisis, noting that the (Iraq Marshall Project) provided job opportunities for women and restarted factories.

Deputy Governor of the Central Bank, Ihsan Shamran Al-Yasiri, said, "The bank launched two initiatives related to housing, the first with 5 trillion dinars and the other with one trillion dinars, for a total of 6 trillion dinars," according to "conscious."

He added that "the first initiative is through the real estate bank to buy housing units in or outside the complexes, in addition to the second initiative in the Housing Fund to finance the construction of housing units by the public, which witnessed a wide demand for it."

He pointed out that "the housing initiative is considered one of the most successful initiatives because it has absorbed the housing problem," noting that "the housing initiative, which extends to 20 years without benefits, except for a simple commission."

He continued, "We launched one trillion for private banks to meet the various demands of the public, including housing, in addition to initiatives for the agricultural and industrial sectors," explaining that "since 2015 until now, this initiative has enhanced liquidity and given opportunities to the public to compensate for government jobs through financing, investments and employment."

Al-Yasiri stressed that "the Iraq Marshall Project gave hope for the employment and empowerment of women and the re-run of the factories," noting that "the project is large and is still ongoing."

And about the reserves of the Central Bank, the Deputy Governor of the Central Bank stated, "The Central Bank's reserves of hard currency have so far reached 60 billion dollars."

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