2020-01-12

A circular dated January 12, 2020 regarding the exhaustion of the amount available for the medium-sized companies initiative at a return rate of 7%.

In a letter dated January 12, 2020, the author informs the Chairman of the Board of Directors of a bank in Cairo that the initiative referenced, which allocated 5 billion Egyptian pounds for loans to medium-sized companies in the manufacturing, agriculture, and renewable energy sectors, has achieved its goals and exhausted its funds. As a result, they request that no new financing be granted under this initiative and that consideration be given to the possibility of the industrial private sector benefiting from another initiative launched on December 12, 2019.

Egypt

Central Bank of Egypt

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