International Bank organizes a Conference with Iraqi participation
Under the slogan (Temporarily Strategy for Iraq), the International Bank will organize a conference in the Marriott in the Jordanian capital Amman on December 3rd, 2008 with the participation of several Iraqi companies including the Iraqi Company for Banking Bails.
The conference will open the doors for Iraq to carry out several economic projects, which help in reconstructing the country and developing the economic and social situations in Iraq. A Large number of people are depending on this conference and betting on its success.
The Iraqi Company for Banking Bails was established in 2006 upon the aid of the Central Bank of Iraq, and is owned by 11 private banks including 187 branches distributed in all the Iraqi provinces. It is a limited company and will be transferred to a private one. http://www.investorsiraq.com/images/smilies/rock.gif
The company supports the banking loans for medium and small projects. Its loans are between 5000 and 25000 US$ for a period of 1-5 years and its granted loans are 110 with an amount of 3 million US$.
Brief on Iraq’s membership in the International Bank:
Iraq is a founding member of the International Bank of Housing and Reconstruction and got 6 loans between the years 1950 to 1973 for the sectors of agriculture, education, controlling floods, communications and transportation. Its last loan was closed in 1979 and the remaining loans remained in the non-check stance since 1990.
The bank presented consultative services to the supreme committee, which is related with the Prime minister, to make a private national developing strategy for Iraq.
The bank is still a member in the International consultative Control Council, which starts its work in 2004 and included International Monetary Fund, Arabian Fund for Social and economic Development and a representative from the caretaker government, as a supervisor committee to audit the development fund of Iraq.
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