The real estate bank has reopened its branch in the city of Mosul to support the reconstruction of the city, home to nearly 2 million people, after it was destroyed by the fighting against the terrorist “Da’ash”.
“Loans will be granted for the construction, purchase or rehabilitation of residential units,” bank manager Saifuddin Mohamed said in a statement.
The real estate bank closed its branch when a terrorist junta in June 2014 controlled the city, most of whose buildings were turned into rubble by battles to regain control.
Some 21,500 homes were completely destroyed or damaged in the city, the capital of Dahesh, during the battles led by Iraqi forces that ended with the expulsion of terrorists last July.
According to the United Nations Housing Program, damage to the housing sector represents nearly a fifth of the damage caused by years of bloody violence in Iraq.
Waiting for a large number of Mosul residents has prompted reconstruction to begin after they have been tired of waiting for government aid.
The government welcomed the Kuwait conference for the reconstruction of Iraq, in which Iraqi officials announced the need for their country to reach 88 billion dollars, including 22 billion in the short term, to secure the reconstruction of damaged housing and infrastructure.