Today, Sunday, Prime Minister Ali Falah Al-Zaydi directed the launch of a package of initiatives and financial procedures to activate market movement, stimulate economic activity, and enhance the role of the banking sector in financing productive and investment activities.
The media office of the Prime Minister stated in a statement received by the Video News Agency that Al-Zaydi chaired a meeting that included the Minister of Finance, the Governor of the Central Bank of Iraq, a number of advisors, general managers of government banks, and representatives of private banks to discuss ways to stimulate economic sectors, provide necessary funding for projects, support the private sector, and create job opportunities.
He added that the meeting resulted in a set of executive decisions that included directing the Central Bank’s initiatives towards the real estate and housing sector with an amount of one trillion dinars, and enhancing the liquidity available to the Iraqi Trade Bank and the Industrial Bank with an additional amount of no less than one trillion dinars to finance industrial and productive projects.
He continued that the decisions also covered the Ministry of Finance financing contractors’ dues with an amount of 500 billion dinars, and settling farmers’ dues with an amount of 500 billion dinars to support the agricultural sector, in addition to enhancing the Generation Fund initiative with an additional 500 billion dinars to be added to its current balance.
He clarified that the Prime Minister stressed the importance of speeding up the implementation of the decisions and transforming the initiatives into actual measures that directly reflect on the market movement, while the Central Bank confirmed its readiness to provide the monetary and financial environment supportive of economic activity and development.