2021-02-22

Circular dated February 22, 2021 regarding amending some provisions of the Micro, Small and Medium Enterprises Initiative

In a letter dated February 22, 2021, the Central Bank of Egypt instructed banks to increase their lending to small and medium-sized enterprises (SMEs) and microfinance institutions to 25% of their credit facilities by December 31, 2022. This is an increase from the previous target of 20%. Banks that fail to meet this target will be required to deposit the difference at the Central Bank without earning any interest.

Egypt

Central Bank of Egypt

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