The consent of Memorandum of Understanding is providing credit facilities to Ashur Bank not to exceed $ 1,000,000 (one million dollars) for a period of one year after the signing by both parties on the loan agreement, as well as Ashur Bank to use the loan for the purposes of providing loans to small enterprises and medium- enterprises in Iraq.
Both parties agree the foundation has objection rights to object to any institution of the draft borrower SMEs for any reason that it is entitled to reject any loan institution does not meet the criteria for project approval.
Both parties agree that the foundation provides financing directly to Ashur bank for each loan project basis. Ashur Bank agrees to manage the payment and collection of each loan project.