Arab Finance: Egyptian banks have completed the financing process of all the piled-up import orders of essential commodities at ports, around 11 senior bankers told Asharq Business.

The bankers confirmed that the backlog of all goods stuck at ports, especially food, pharmaceuticals, fodders, and production requirements, had been cleared.

However, the import orders of 13 complementary commodities are yet to be financed, one banker noted, saying that providing the necessary financing for these orders is pending the Central Bank of Egypt’s (CBE) approval.

On March 19^th, Minister of Finance Mohamed Maait announced that the Egyptian government had released essential goods worth $14.5 billion at ports since the beginning of this year.

Egypt introduces new regulations for importing cars for personal use Updated 12/26/2024 1:46:00 PM

Madbouly meets private sector leaders to address challenges, propose economic initiatives Updated 12/26/2024 7:48:00 AM

Egypt settles $38.7B in debt during 2024 Updated 12/26/2024 7:41:00 AM

Egyptian cabinet approves mechanism to settle export companies’ arrears Updated 12/26/2024 7:40:00 AM

Egypt’s GDP to hit 4% in current FY2024/25: Al Ahly Pharos Updated 12/25/2024 2:06:00 PM