The Central Bank of Egypt (CBE) has granted EGP 253 billion facilities to the private industrial sector by the end of December 2021, according to recently published data.
With a decreasing interest rate of 8%, these facilities were part of an initiative that was launched in December 2019 to finance companies operating in the industrial, agricultural, and contracting private sector, as shown by cited data of the CBE.
This initiative has supported around 8,800 medium and large companies with an annual turnover of more than EGP 50 million.
Under the initiative, Egypt provides short and long-term credit facilities to companies to finance the purchase of raw materials, production supplies, machinery, and production lines.
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