Official sources at the Iraqi Housing and Construction Ministry said recently that the ministry would award several contracts for the construction of 504 residential complexes in various governorates to specialized firms.
In this context, it should be mentioned that the Iraqi government-funded Housing Fund stated earlier this month it would soon start lending the Iraqi people to finance building of more than 2 million residential units.
The Fund has recently received ID 100 billion ($70 million) out of determined ID 300 billion ($200 million). The U.S. Treasury and USAID had previously agreed to support the Iraqi Government’s housing finance program with technical assistance to develop a policy framework that attracts private sector and multilateral sources of mortgage finance. USAID and US Treasury will provide technical assistance for the start-up operations of this Fund.
