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CAIRO - 30 April 2020: Minister of Planning and Economic Development and Egypt’s Representative to the Islamic Development Bank (IsDB) Hala El-Said underscored the importance of making ultimate use of IsDB assistance package in response to the Covid-19 untoward economic impact.
A statement issued by the Planning and Economic Development Ministry Thursday, following a video conference grouping the minister of planning and Minister of International Cooperation Rania El-Mashat and IsDB Governor Bandar Hajjar, El Said highlighted the need to benefit from the IsDB offered help in this regard, especially for the sectors most hit by the crisis.
The minister of planning and economic development referred to the government's keenness on helping the private sector in obtaining the full support of the IsDB, highlighting the economic measures adopted by the Egyptian state to back private businesses hurt by the crisis including easing financial policies' regulations, postponing tax payment, as well as insurance installments.
The statement pointed out to the government's decision to put off all due payments of all ailing sectors for three months, and its seriousness in ensuring their strict compliance with precautionary measures adopted to curb the spread of the coronavirus till life gradually returns to normal.
The meeting also tackled the cooperation mechanism between Egypt and the IsDb, together with Egypt’s readiness to lay out a common strategy, with the aim of easing the economic burdens caused by the novel coronavirus outbreak.