2020-06-17

A circular dated June 18, 2020 regarding the listing of newly established medium-sized companies and small companies affiliated with large entities with an 8% initiative.

The Central Bank of Egypt has allowed companies operating in the private sectors of industry, agriculture, and services, with an annual turnover/revenue of up to 50 million Egyptian pounds, to use its low-cost funding program. This initiative was approved during a board meeting on June 14, 2020, that also amended the previous program launched in December 2019. The new scheme will offer companies an interest rate of 8% annually, payable over one year. Businesses classified as 'small' or 'medium-sized enterprises' are eligible for this funding, depending on their financial statements and balance sheets.

Egypt

Central Bank of Egypt

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