2017-03-05

A circular dated March 5, 2017 amending some items of initiatives for companies and small and medium enterprises

In a letter dated March 5, 2017, the Central Bank of Egypt announces amendments to its initiatives launched in 2015-2016 to encourage banks to finance small and medium-sized enterprises (SMEs). These amendments include a revised definition of SMEs, allowing banks to finance micro and small enterprises without audited financial statements for up to two years, and adding the new and renewable energy sector to the medium-sized enterprise initiative. The letter also mentions adjustments to the maximum limit for individual beneficiaries and the provision of EGP 10 billion in short-term credit facilities for medium-sized enterprises in the industrial, agro-industrial, and new and renewable energy sectors.

Egypt

Central Bank of Egypt

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