2023-07-24

A circular dated July 24, 2023 regarding the Council of Ministers’ decision to cancel the initiative to support the tourism sector

On July 24, 2023, a letter was sent to the Chairman of the Board of Directors of a bank in Cairo, Egypt, regarding a previous circular and a decree by the President of the Republic. The letter communicates that the Egyptian Cabinet, in its session held on July 5, 2023, approved the cancellation of the low-interest initiative for tourism development. As a result, no new financing should be granted under this initiative, pending the issuance of a presidential decree. A new initiative will be coordinated between the Ministries of Finance and Tourism to support the tourism sector.

Egypt

Central Bank of Egypt

Show thumbnail