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Private banks financed small and medium-sized projects for Iraqi citizens
10/11/2012 - 09:39
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Private banks financed small and medium-sized enterprises
The results of financing small and medium-sized enterprises by a number of private banks and in cooperation with the United States Agency for Development seemed clearly visible, according to operators of the project during their third meeting where emphasized that the number of applicants for these projects is increasing due to profits obtained from them.
Saif Hilfi Managing Director of the United Bank for Investment: (I think that small and medium-sized enterprises which is an urgent need for Iraq to strengthen the national economy as well as to strengthen the sustainable development and this is a very important idea.
Joya Antal, director of bank lending in the U.S. Embassy: (today's meeting, which brought together government banks and Iraqi private banks and a number of officials Iraqi and U.S. governments is to develop the idea of small and large enterprises, which I think it will be the cause of the development of Iraq's economy.
Although confident those financing the projects the extent of its success but that others of them talked about the obstacles that still face and issued by the lack of funds allocated for lending.
Mohammed Shoaib, owner of project finance: (one of the most important constraints faced by owners of small and medium-sized enterprises is to get funding or lack of funding.
Sam Nouri, director of the Iraqi Company for financing various projects: (up to 17 billion dinars actual need or demand for loans but now we do not cover only 3 or 4 billion
And for the beneficiaries of the loans, the high interest that accumulates on them cause them financial difficulties .. They welcomed the draft lending
Ali Taha, one of the beneficiaries of financing small and medium-sized enterprises: (is Huai interest because reach 14% annually ČÓ I generally benefited from the loan as laboratory developed.
Private banks provided through loan programs hundreds of jobs while producing The Government appoints the unemployed in jobs, mostly longer productive causes enlargement of the operating budget of the state each year.
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