BAGHDAD - morning - Hussein al-Tamimi Tgb
Stressed economic affairs expert d. Ikram Abdul Aziz on the importance of finding new sources of funding for small and medium-sized enterprises, for their role in achieving economic development in the various productive and service sectors as well as being complementary to projects large industrial strategy, especially as the more than $ 6 million has been provided as loans through 9 community banks provided more than 5 Thousands of jobs and the use of funds in repayment of loans from a new generation.
She Abdul Aziz, in an interview for the "morning" to the importance of expansion ports funding Iraqi company and went to finance small and medium enterprises to find new funding sources and multiple channels of different international agencies working in the areas of development support, to finance these projects, which were taken to expand gradually, especially as the government program 2014 - 2018 focused on ensuring an enabling environment for the promotion of private finance, banking and trade sector as well as support for investments that encourage the operation of manpower.
Abdul Aziz pointed out the need to intensify efforts to obtain internal financing through public budgets, as the company has achieved tangible results from the financing of small and medium enterprises and has acquired expertise in lending to these projects almost to Ataatuar with the government of the banking system, as well as its successful experience in the field of recycling amounts loans to a new generation of loans and their ability to repay the loan installments follow-up work and borrowed projects.
She said during their participation in an economic seminar annexing Iraqi Institute for Economic Reform said the Iraqi Company for Financing SMEs claim to attract those efforts to provide funding for the purposes of aid and grants from international organizations and supporting institutions and even local, to build a lending group and convert capital lending of these supporters to loans provide small and medium-sized enterprises through a network of private commercial banks, which created for this purpose lending programs.
Showed Abdul Aziz that the results of financing data analysis provided by the Iraqi Company for Financing Small Projects appear effective contribution to the grant to finance small projects, which reached number-funded loans by participating banks and years (2009 - 2013) (5507) loans approved amount of the grant provided by the US Agency International Development's (6) million dollars in addition to fully co-financing provided by the participating banks and recycling actor for repayments to a new generation of loans, and these loans are worked to recruit new jobs amounted to (5) of thousands of new jobs.
She stressed Abdul Aziz on the importance of opening new outlets for financing small and medium enterprises across the company and other companies adopt this approach that achieves significant economic feasibility of the country through the granting of loans and credit facilities directly to the beneficiaries of entrepreneurs, and work to reduce the interest rate for these loans, also prefers to work on further development of the staffs working in companies that offer loans to keep pace with the rapid developments in the areas of marketing and grant funding for small and medium enterprises.
Lack of funding
And stressed the importance of diversifying the channels grant funding to include new projects that these are often projects suffer from a lack of funding and back the idea inception to unemployed people who have ideas to run the project, which requires work to provide funding for these projects for the purpose of contributing to the elimination of unemployment rampant among categories young people.
Abdul Aziz pointed out that the importance of funding for small projects illustrated the prominent developmental role in the economies of most countries, since these projects are small collar deliverance out of the economic crisis. And so high for its ability to develop the economy and modernize the industry and to activate and create a spirit of competition between projects, and the development of the standard of living for individuals, and narrowing the gap between savings and investment, and expand the ownership base of the private sector, all of this reflects the importance of the direction of funding towards these projects for the development and growth and in particular it does not need a large capital Like other large projects.
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