2018-03-25

A circular dated March 25, 2018 regarding the exhaustion of the amount available for the working capital financing initiative for medium-sized companies at a return rate of 12%

Cairo, March 25, 2018: The Governor / Chairman of the Board of Bank of Egypt stated that: In accordance with the published book on March 5, 2017 regarding the Central Bank of Egypt's board decision dated February 28, 2017 to allocate EGP 10 billion through banks at a profit rate of 12% used for short-term facility loans to fund working capital for small and medium enterprises as indicated in the mentioned book. In light of the success of this initiative in achieving its goals and the allocation of the available funds, it is recommended to consider stopping providing new financing under this program starting from the mentioned date.

Egypt

Central Bank of Egypt

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