The Association of Private Banks: 42 banks have loaned thousands of projects at an amount of 329 billion dinars

by **claud39** Mon Dec 28, 2020 9:34 pm

The Association of Private Banks: 42 banks have loaned thousands of projects at an amount of 329 billion dinars

12/28/2020

Economy News - Baghdad

The Iraqi Private Banks Association announced, on Monday, that 42 private and governmental banks granted loans in the amount of more than 329 billion dinars as part of the one trillion initiative launched by the Central Bank to the commercial, residential, service and agricultural sectors.

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a press release received by "Al-Eqtisad News", "The Central Bank of Iraq launched an initiative to support small and medium enterprises and allocated an amount of 1 trillion dinars to banks," explaining that "this initiative contributed to supporting thousands of people." Small, Medium and Residential Projects. "

He noted that "the initiative continues until now, and it grants loans to citizens at a rate of 3.5% when the loan amount is less than 20 million dinars, and 4% when the loan ranges between 21 million dinars to one billion dinars," explaining that "the initiative was granted through 42 private banks." And government until December 15, 2020, loans worth 329 billion dinars.

Tariq emphasized that "the agricultural sector had its share of loans 6.84 billion dinars, industrial 46.57 billion dinars, commercial 100.5 billion dinars, service 86.15 billion dinars, and housing 48.52 billion dinars, while there are loans in the grant stage of 40.5 billion dinars, noting that the loans allocated to the residential sector are 100 million dinars, at a 4% diminishing interest, and a repayment period of 15 years.

Tariq pointed out that "the initiative to lend 1 trillion dinars to citizens is still continuing to revitalize the economy on easy terms. The application is made directly through the banking sector and is granted after studying the feasibility of the project."

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