Iraq launches $2.7bn financing drive for housing, industry and farming
A 3.5 trillion-dinar package directs fresh funding to projects, state-bank lending and overdue payments to contractors and farmers.
Iraq approved financing measures worth 3.5 trillion dinars, or about $2.7 billion, to support economic activity, housing, industry and agriculture. The package includes one trillion dinars from existing central-bank initiatives for real estate and housing, plus at least one trillion dinars in additional liquidity for the Trade Bank of Iraq and the Industrial Bank.
The government also allocated 500 billion dinars for contractors’ arrears, the same amount for farmers’ dues, and another 500 billion dinars for the Generations Fund. The measures are designed to sustain projects, private-sector activity and employment amid lower oil-export revenue.
Original reporting: Asharq Bloomberg ↗