2013-03-13

Central Bank initiative to support the tourism sector

The letter outlines a decision by the Egyptian Central Bank to support the national economy and develop various economic sectors, with a focus on the tourism industry. The bank has decided to issue an initiative to support the tourism sector, specifically by providing credit facilities for hotels, travel services, transportation, and restaurants in tourist areas. The initiative includes guidelines for banks to study each case individually and make appropriate decisions, including granting a one-year grace period, rescheduling payments, and reducing interest rates. The decision aims to help non-regular clients and restructure some facilities to extend repayment periods.

Egypt

Central Bank of Egypt

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