The Central Bank of Egypt CBE waives EGP 48.5 bn debt and interest for struggling factories

Posted on March 2, 2020

The CBE debt relief initiative for local industry is targeted to boost medium sized domestic manufacturing through subsidized loans at a declining 10% interest rate. Under this relief 176 companies are no longer obliged to pay EGP 15.9 bn in accrued interest to banks Lawsuits filed by banks against 91 companies in default will be set aside as well.