Iraq directs $2.67bn support package toward housing, industry and arrears
Five measures include redirected central-bank initiatives, added bank liquidity and payments for contractors and farmers.
Prime Minister Ali Al-Zaidi ordered an economic-support package worth at least 3.5 trillion Iraqi dinars, or about $2.67 billion. The measures redirect 1 trillion dinars from existing Central Bank of Iraq initiatives to real estate and housing, while at least another 1 trillion dinars is to bolster the Trade Bank of Iraq and Industrial Bank for industrial-project financing.
The package also assigns 500 billion dinars to contractors’ arrears, 500 billion dinars to farmers’ dues and 500 billion dinars to the Future Generations Fund, taking that fund to 1.5 trillion dinars. The government called for rapid implementation as it seeks to support liquidity, productive activity and private-sector employment.
Original reporting: Shafaq News ↗