Regulatory Alerts2019-03-18
Added · Updated
Circular dated March 14, 2019 regarding financing agricultural cooperative societies within the Central Bank’s initiative for small companies and enterprises
The Central Bank of Egypt has decided to expand its low-interest rate initiative for small companies and enterprises to include agricultural cooperative societies. This expansion allows banks to provide financing to these cooperatives, including those established by farmers or for the purpose of transitioning to modern irrigation methods, at a reduced interest rate of 5%. The decision was approved during the Board of Directors' meeting held on March 13, 2019.
Topics
monetary
credit
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