CBE sets new terms for 11% subsidized lending program for industrial, agricultural players
Updated 3/8/2023 8:16:00 AM
Arab Finance: The Central Bank of Egypt (CBE) has set the maximum funding provided for beneficiaries under the five-year 11% subsidized lending program to back the industrial and agricultural sectors at EGP 75 million per individual and EGP 112.5 million per individual and all related parties, according to a circular dated March 7th,
On January 11th, the Egyptian government announced an EGP 150 billion worth of loans at a subsidized 11% interest rate to support the industrial and agricultural sectors.
The five-year program includes around EGP 140 million in financing to cover the working capital, in addition to, an amount of EGP 10 million to fund the purchase of capital goods.
The value of the offered financing under the initiative will be diminished by 20% annually.
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