Circular Dated April 4, 2020 Regarding Expanding the Scope of the Industrial Private Sector Initiative

Cairo, April 4, 2020

Mr. Chairman of the Board of Directors - Bank

Greetings and salutations,

With reference to the Central Bank of Egypt's initiative dated December 12, 2019, and its subsequent circulars, under which 100 billion Egyptian pounds were made available at an 8% annual interest rate (simple declining interest) through banks to grant credit facilities to companies operating in the industrial private sector, agriculture, and agro-processing, whose annual business volume or revenue ranges from 50 million to one billion Egyptian pounds.

In continuation of the above, and for the purpose of stimulating the Egyptian economy under the current circumstances, and to provide support to the largest number of companies by expanding the base of beneficiaries of the initiative, it has been decided to allow all companies operating in the industrial private sector, agriculture, and agro-processing whose annual business volume or revenue exceeds one billion Egyptian pounds to benefit from the aforementioned initiative, with the aim of achieving its intended goals.

Please take note and act according to the aforementioned decision effective from this date.

Please accept our highest regards and appreciation.

Tarek Amer