$916m CBI Initiative Targets Education and Veterinary Medicine

By John Lee.

The Central Bank of Iraq (CBI) has reportedly launched a lending initiative worth IQD 1.2 trillion (USD 916 million) to support education and veterinary medicine, and to strengthen liquidity in the banking sector.

According to the state-run Iraqi News Agency (INA), the initiative is based on Central Bank Law No. 56 of 2004 (as amended) and covers two main sectors:

• Education: financing for private schools, specialised vocational institutes, and related facilities, subject to prior approval from the Ministry of Education and relevant government bodies
• Veterinary medicine: financing for veterinary pharmaceutical and vaccine factories, hospitals, clinics, and laboratories, as well as manufacturing of veterinary supplies, subject to approval from the Ministry of Agriculture and other relevant authorities

The initiative was set out in an official document issued by the Banking Supervision Department and addressed to all licensed banks.

(Source: Iraqi News Agency)

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