Economy News – Baghdad
The Ministry of Environment has announced the availability of loans up to 500 million dinars for the owners of brick factories utilizing liquefied gas. This initiative is part of a joint effort with the Central Bank aimed at enhancing environmental standards.
Louay Al-Mukhtar, the spokesman for the Ministry of Environment, confirmed that an agreement was reached during a recent meeting between Environment Minister Hello Askari and Central Bank Governor Ali Al-Alaq. The focus of this collaboration is to support the implementation of pivotal decisions made by the Council.
Al-Mukhtar elaborated that many of these factories are currently operating with outdated technologies that utilize black oil—a fuel known for its high sulfur content and inefficiency in combustion. He emphasized that the Central Bank’s initiative to extend financial support is crucial for facilitating the transition to cleaner technologies, highlighting that the loan amount can reach 500 million Iraqi dinars.
This initiative is poised to significantly alleviate air pollution issues, particularly in the Nahrawan region. It represents a substantial step toward improving environmental conditions and promoting better health outcomes for the community.
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