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Iraq : GOVERNMENT OF IRAQ launches project to loan 80 billion Iraqi dinars to farmers

May 19, 2014

On 15 May, the government of Iraq announced launch of a project to loan 80 billion Iraqi dinars ($69 million) to farmers in a move to help them reclaim their land and procure required equipment.

A programme was approved by the cabinet to give 80 billion Iraqi dinars in loans to farmers during this year.

As per this programme, each farmer will be eligible to receive a loan of between 10 and 17 million dinars ($9,000 and $15,000) and its repayment would be allowed as per an easy-term repayment system of up to 10 years. The loan amount is mainly to acquire agricultural equipment and seeds and for digging canals and water wells.

All Iraqi farmers who own more than 30 dunams of land will be eligible for this loan.

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Source: TendersInfo (India)

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