Sustainable financing of the banking sector and the loss of opportunities for sustainable development in Iraq

Abstract

There are shortcomings in the initiatives and strategies related to the distribution of bank financing to the various productive economic sectors in Iraq, and despite the provision of government and private banks with financing that aims to bridge the financing deficit for the economic sectors, this financing did not achieve the desired goal in achieving sustainable economic development, which is due to the lack of proper application of development plans and the lack of required cooperation between state institutions that deal with strategic plans and initiatives related to economic development.

   The absence of a clear-cut strategy to develop detailed plans with regard to the distribution of development bank credit to the various economic sectors. The result is the lack and loss of economic development opportunities through the failure to exploit the financial allocations for initiatives to support the various economic sectors. Thus, there is a deficiency in the income-generating projects that provide the general federal budget with the necessary funds for the continuity of sustainable financing