KRG exempts state borrowers from 15% of their debts

Shafaq News / The Ministry of Finance and Economy in Kurdistan Regional Government announced today, Thursday, that state borrowers will be exempted from 15% of their loans.

A statement by the ministry, received by Shafaq News agency, said that it issued a decision to exempt 15% of all loans and fines. The statement stipulated that this decision only applies if the borrower pays all their payments by next November.

The statement clarified that it includes housing advances, water and electricity debts, small debts and marriage advances.

Kurdistan Regional Government had established a years ago a 10 years housing loan fund, from which thousands of citizens benefited.

In addition to the housing fund, the government established a small project funds loan, from which about 8,136 young citizen benefited. 76,865,000 dinars of loans were granted by the government.