Circular dated April 5, 2022 regarding including doctors in the Small Projects Initiative (5%)

Cairo: April 5, 2022

Dear Mr. Chairman,

Greetings,

With reference to the Central Bank of Egypt's initiative for financing small companies and establishments issued on January 11, 2016, at a 5% interest rate (calculated on a declining basis) and its amendments, and in light of the importance of the health sector for the Central Bank's direction of supporting the state in achieving its targets in Egypt, which ranks among the state's top priorities, and to enhance the advancement of the health sector by providing distinguished job opportunities for doctors and providing the necessary financing to support their ability to open their private clinics and equip them with the necessary medical instruments and equipment, in coordination with the Egyptian Unified Procurement Authority to benefit from its prices, the Board of Directors of the Central Bank of Egypt decided in its meeting held on January 4, 2022 the following:

First: Allowing human doctors, physical therapy doctors, and dental doctors who are members of the Medical Syndicates Union to benefit from the Small Companies Initiative issued by the Central Bank of Egypt in January 2016 at a 5% interest rate (calculated on a declining basis) and its amendments, without adhering to the legal form or the minimum size of business.

Second: Committing to using the facilities granted under the aforementioned initiative to finance investment costs for purchasing medical devices and equipment, while monitoring the use for this purpose, ensuring the continuity of the activity, and conducting periodic inquiries.

I also wish to emphasize the importance of the role of banks in providing electronic payment means for financed doctors within the scope of this initiative to support digital transformation and financial inclusion.

Please be kind enough to alert to full compliance with the above as of its date.

Tarek Amer