2020-05-14

A circular dated May 13, 2020 regarding allowing the contracting sector to benefit from the private sector industrial initiative

In a letter dated May 13, 2020, the Chairman of the Board of a bank in Cairo, Egypt, is informed of the Central Bank of Egypt's initiative to provide 100 billion Egyptian pounds in funding at an annual interest rate of 8% to private industrial and agricultural companies with annual revenues of 50 million Egyptian pounds or more. Due to the challenges posed by the COVID-19 pandemic, the Central Bank has decided to extend this initiative to include construction companies meeting the same revenue criteria.

Egypt

Central Bank of Egypt

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