Central Bank of Egypt allocates 5 billion pounds for loans to medium-sized businesses

The Central Bank of Egypt (CBE) has decided to allocate five billion pounds to be re-lent by the banks to the medium-sized enterprises working in industry and agriculture.

The loans, to be repaid in a maximum period of 10 years, are aimed at financing the purchase of new machines, equipment and production lines, the CBE said in a statement on Monday. 

The move is aimed at supporting such businesses to achieve true and sustainable development that will help increase the gross national product, improve the living standards and provide job opportunities, it added.

Source: MENA