Housing fund helps Iraqis build their own homes

Iraqi Ministry of Construction
Mawtani.com, a service of Al-Shorfa
Wed, Dec 4, 2013

by Khalid al-Taie

The Iraqi Ministry of Reconstruction and Housing has granted loans to around 41,000 Iraqis over the past two years to help them build new homes.

According to Ali Hussein, the general director of the ministry's Housing Fund, since the passage of Housing Fund Law No. 32 of 2011 and the start of its application at the beginning of last year, the number of people benefiting from these loans increased significantly in comparison to previous years.

The ministry has extended its working hours to complete the processing of applications within a period of three weeks, after checking that the applicant's documents and papers are correct and complete.

Now, every day, the fund issues "anywhere between 400 and 500 checks to borrowers amounting to about 3-3.5 billion dinars ($2.6 million to $3 million), which is a clear indication of the growth in the fund's loan activity, and its effective contribution towards resolving the housing crisis by easing the cost of housing construction for citizens", he said.

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