CBI: New plan to increase housing sector allocations

Economy

8-07-2021, 10:24

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Baghdad – INA

The Central Bank of Iraq decided on Thursday, to increase the allocations for the housing sector.

CBI stated in a statement received by the Iraqi News Agency (INA), that it was decided to increase allocations for the housing sector to more than (1.9) trillion dinars, including (1) trillion dinars for the Real Estate Bank of Iraq and about (900) billion dinars for the Housing Fund, to raise their ability of providing the initiative funds to largest number of beneficiaries.

CBI added that this plan will increase the total amounts allocated to the Real Estate Bank of Iraq and the Housing Fund amount to more than (3.6) trillion dinars.

Earlier, Prime Minister Mustafa Al-Kadhimi ordered to overcome the routine and ease the procedures for granting loans to the citizens, pointing out that the government had adopted a national initiative to address the housing crisis.