2020-01-02

A circular dated December 31, 2019 following the private industrial sector initiative issued on December 12, 2019.

In a letter dated December 31, 2019, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board, emphasizing the Bank's initiative to support private industrial companies with annual revenues between 50 million and 1 billion Egyptian pounds. The letter reiterates that the initiative should focus on providing credit facilities for purchasing raw materials and production necessities, as well as financing machinery, equipment, and production lines to increase production capacity. It also mentions the possibility of irregular customers benefiting from the initiative if they comply with the specified repayment terms.

Egypt

Central Bank of Egypt

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