2020-01-08

A circular dated January 8, 2020 regarding the initiative to support the replacement and renovation of residence hotels, floating hotels, and tourist transportation fleets.

The letter announces a new initiative by the Egyptian Central Bank to support the tourism sector with 50 billion Egyptian pounds in funding through banks at a 10% interest rate. This initiative replaces a previous one from February 2017 and aims to help finance the renovation and modernization of hotels, floating hotels, and tourist transport fleets. The loan period is up to 15 years, and the bank will fund up to 75% of the total renovation and modernization costs.

Egypt

Central Bank of Egypt

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