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Thursday, 09 April 2020

Egypt’s central bank enrols agricultural manufacturing sector to its industrial private sector support initiative

The enrolled enerprises include manufacturing stations, agricultural commodities packing, agricultural crops and refrigerated products, in addition to livestock, fish and poultry

Doaa A.Moneim , Thursday 26 Mar 2020
Central Bank
Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt. (Photo: Reuters)
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The Central Bank of Egypt (CBE) announced on Thursday that enterprises working in agricultural production and manufacturing have been enrolled as beneficiaries from the CBE’s industrial private sector support initiative.

The enrolled enerprises include manufacturing stations, agricultural commodities packing, agricultural crops and refrigerated products, in addition to livestock, fish and poultry.

The initiative provides an eight percent declining interest rate loans for the beneficiaries.

The new facility covers enterprises which have total business and annual revenues of EGP 50 million up to EGP 100 billion, according to a CBE statement.

The CBE clarified that its initiative to provide credit facilities for small enterprises in the agricultural sector remains in force with a declining five percent interest rate, given to those with total business and annual revenues of EGP 250,000 and under EGP 50 million.

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