2021-03-15

Added 2024-09-21 · Updated 2026-08-02

Circular dated March 15, 2021 regarding financing gas dues from ceramic companies within the private industrial sector initiative

The Central Bank of Egypt allocates a 1.2 billion EGP tranche at an 8% declining interest rate to finance a 25% down payment for ceramic and porcelain companies restructuring their natural gas debts over 10 years. Eligible companies must provide agreements with the Ministry of Petroleum and gas companies, exclude 50% of late fees incurred until December 31, 2019, and demonstrate the ability to service debt through future cash flows. The down payment is transferred directly to gas companies, and banks are instructed to implement this measure immediately.

Egypt

Central Bank of Egypt

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