Central Bank of Egypt (CBE) has launched a new mortgage finance initiative on President Abdel Fattah al-Sisi directives to help low and middle citizens.
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Under the new initiative, low- and middle-income earners will have access to mortgage loans at a rate of 3 percent with a 30-year repayment period, according to a statement on Sunday.
A total of 100 billion Egyptian pounds will be allocated to the initiative, CBE’s Deputy Governor, Gamal Negm, reported as saying.
