Regulatory Alerts2016-02-22
Added · Updated
Circular dated February 22, 2016 regarding the initiative for medium-sized companies operating in the industrial and agricultural sectors
The Central Bank of Egypt allocates 5 billion Egyptian pounds to provide medium and long-term financing to regular medium-sized companies in the industrial and agricultural sectors for purchasing new machinery, equipment, or production lines. The initiative offers reduced interest rates of 7% for loans up to 10 years, with a maximum eligibility of 20 million Egyptian pounds per company through a single bank. Banks must repay the principal in quarterly installments and interest monthly, while the Executive Management retains the right to review terms annually.
Topics
monetary
credit
Share