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Hue Mi
04-14-2014, 12:29 AM
Feili: investment of funds frozen in banks optimization them (http://www.alsabaah.iq/ArticleShow.aspx?ID=69008)

14/04/2014 12: 00 am

The housing crisis is still

Baghdad-Chartreuse, Chen

The problem of housing in Iraq challenge ranked first as inherited from nearly four decades as a result of the isolation of the country from the outside world in terms of scientific and academic walkhbroet and craft as well as the increase in population the corresponding breakpoint in investment projects that expressed by modern investment Board member Dr. Thaer Feili in response to a question of "morning" on the means of resolving the housing crisis.

He said that the country's estimated need over 3 million housing units, is growing up to 4 and a half million housing units and considers the possibility of resolving through strategic bodies the Mare and the private sector.

Feili proposes moving the funds frozen in State banks namely Rafidain and Rasheed that they cost the country two defeats are the inflation through interest rate and the problem of economic growth for their investment and said there could be a tremendous development these funds by lending to people in projects like the rest of the world, such as Egypt, the UAE, Lebanon and even in Kurdistan

Investment legislation

He noted that banks have at least 90 trillion Iraqi dinars, around 80 billion dollars, mostly frozen quarter of these amounts can solve the housing problem in the country by lending but lending policy backward not in line with the investment and the private sector to see the policy money stockpiled, which are a burden on the Iraqi economy, which should lend through some legislation.

Development Bank

Feili counting the proposal put forward by the planning Ministry and other ministries which includes the establishment of a "Development Bank" to support investment projects with important and effective, especially in housing projects and can provide great support and can reduce the housing gap on Iraq through housing estates as well as the potential to solve many other problems including severe unemployment problem with labour in building residential complexes, let alone solve the problem of economic stagnation in the market.

Character development

He noted that the investment will active character development and opportunities for innovation

Said Feili there should be central in the planning within the institutions concerned with the housing problem.

He pointed out that there are non-involved in the problem leading to the fragmentation and multiplicity and poor coordination among them, stressing the need for coordination between the Board of investment and the Ministry of housing and construction in the housing.