Industry Ministry activates 1st phase of EGP 30B financing initiative for key sectors
Updated 4/14/2025 10:05:00 AM
Arab Finance: The Ministry of Transport and Industry announced the launch of the first phase of a new initiative to provide EGP 30 billion in financing facilities at a diminished interest rate of 15% to support priority industrial sectors, as per a statement.
The program targets the purchase of machinery, equipment, and production lines for seven key industries: pharmaceuticals, food, engineering, chemicals, ready-made garments and textiles, mining, and building materials.
Investors are invited to submit their applications through the headquarters of the Industrial Development Authority and its branches across governorates. Completed applications will be processed within two weeks.
The Ministry of Finance will cover the difference in interest rates, in line with the government’s plan to deepen local manufacturing and boost the competitiveness of Egyptian products.
The program’s eligibility criteria require applicants to provide evidence of readiness, including a building permit, proof of construction completion, and details on the machinery to be financed.
The financing cap for each customer is subject to their business size and banking rules.
Priority will be given to projects in underdeveloped regions and those that create the most job opportunities. Applications will be reviewed to confirm compliance with technical criteria before being forwarded to participating banks.
The seven target sectors include detailed sub-industries, such as oncology drug production and cosmetics within pharmaceuticals, and solar energy components, desalination supplies, and electronics in the engineering sector.
The food industry focus covers powdered milk, dried fruits, and essential oils, while the textile component includes synthetic and blended yarns.
The initiative also covers ink production, polyethylene and polypropylene in chemicals, mineral preparation for pharmaceuticals and technology in mining, and ceramics, marble, and pipes in building materials.
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