Wednesday, May 17, 2017

Plans to establish Iraqi Development and Investment Fund, CBI

Baghdad/ Iraq TradeLink: The Governor of the Central Bank of Iraq (CBI) confirmed that the bank is working, in collaboration with 50 other banks, to establish a development and investment fund to grant loans to the public.

Governor Ali al-Alaq pointed that studies are underway to make the general frame work of the fund to activate the Iraqi economy through granting public loans and attracting foreign companies.

"50 banks will participate in forming the fund, each bank will participate with 10 million dollars for four years, so that the capital of the fund will reach two billion dollars", he elaborated.