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The industry reveals the details of the central bank loan

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The industry reveals the details of the central bank loan

Economy | 12:46 - 12/05/2020
Baghdad - Mawazine News


On Saturday, the Ministry of Industry and Minerals confirmed granting loans as part of the Central Bank's initiative, at a rate of 2%, while indicating that the Iraqi industry had proven its ability during the Corona pandemic.

The Director General of Industrial Development, Raed Abdul Ilah Al-Jubouri, said, according to the official agency, that "the granting of loans will be within the initiative of the Central Bank at a 2% interest rate, provided through the industrial and Rafidian banks."

He added that "the exemptions are within Law 20 of 1998 issued by the Minister of Finance in accordance with Article 10 of the Fiscal Deficit Law," noting that

"a misunderstanding of the decision led to the suspension of all exemptions, including all industrialists covered by Industrial Development Law No. 20."

He explained that "Industrial Development is undertaking the process of facilitating procedures for granting licenses to owners of small and medium-sized factories."

He pointed out that “the Iraqi industry has proven its ability and worked to fill the country's need during the Corona pandemic,” stressing that

“the Iraqi industry is able to meet the need, in the event that there is support for the private sector.”
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