2020-03-24

A circular dated March 23, 2020 regarding granting credit facilities for two years within the framework of the tourism initiative issued to support the replacement and renovation of hotels

The Central Bank of Egypt has launched a support program for the tourism sector. The program will grant installment plans up to a maximum period for hotels, tourism projects, travel agencies, and transportation services in the tourism industry, excluding those selling for profit. This initiative is expected to help restart activities such as hotel accommodation, tourist project establishments, domestic transportation services, restaurants, and entertainment activities within tourist areas. It will also aid the aviation industry for carrying passengers. The Central Bank has already established creditworthiness standards for each participant prior to the program.

Egypt

Central Bank of Egypt

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