CBE opens EGP 100 bn industry stimulus package to companies of all sizes
CBE opens EGP 100 bn industry stimulus package to companies of all sizes. The Central Bank of Egypt (CBE) has expanded its EGP 100 bn industry stimulus initiative by scrapping the eligibility limit on a company’s annual revenues, according to a statement (pdf). The package was previously limited to companies with annual revenues between EGP 50k and EGP 1 bn. Companies with revenues of EGP 50k an above are now eligible to apply.
Background: The financing package was expanded recently to include agriculture and agricultural production, fish, poultry, and livestock companies. The package enables these companies to access soft loans, the terms of which the CBE had also updated last month to support the local industry against covid-19.