CBI raises the limit of small and medium enterprises loans to one billion dinars
July 08, 2019
To enhance the successes achieved by the one trillion dinars’ initiative, and in order to absorb more investment projects, the Central Bank of Iraq announces the raising of the limit of loans granted to finance small and medium enterprises, within this initiative, to (billion dinars), stressing that these loans will cover all sectors except The housing sector, giving more space to the industrial and agricultural sectors.The Central Bank issued a set of rules on this lending, in which it stressed the possibility of each bank to submit projects worth up to 5 billion Iraqi dinars, in one go, depending on the form sent for each project and the bank will audit projects that will be funded after 6 months from the date of feeding the bank account to a maximum without allowing the extension of the period.The Central Bank indicates that the term of the loan is up to 5 years and can be extended to 7 years, in case the bank asks the lender to.Central Bank of IraqMedia Office8 July 2019
