Egypt approved a new five-year initiative to fund industrial and agricultural sectors’ projects with loans at an 11% interest rate, according to an announcement made by the Egyptian Central Bank of Egypt (CBE).
The government allocated EGP 150 billion to the five-year initiative.
The maximum credit limit allowed for individual clients will not exceed EGP 75 million, while for multiple-party clients will be no more than EGP 112.5 million.