2020-06-27

A circular dated June 25, 2020 regarding the initiative to guarantee facilities for major companies operating in the industrial, agricultural and contracting sectors through the Credit Risk Guarantee Company.

In response to the economic impact of the COVID-19 pandemic, the Credit Guarantee Company of Egypt has expanded its scope to include guarantees for large companies in addition to its existing coverage for micro, small, and medium-sized enterprises. The Central Bank of Egypt has issued a guarantee of 7 billion Egyptian pounds to the Credit Guarantee Company to partially cover the risks associated with financing large companies. This initiative aims to support the private industrial, agricultural, and construction sectors by providing financing at an annual interest rate of 8%.

Egypt

Central Bank of Egypt

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