CBE expands benefits of small project loans scheme

CAIRO – 13 July 2017: The Central Bank of Egypt (CBE) decided Wednesday to expand the benefits of the small project loans scheme to encourage agricultural, livestock and fisheries production.

The benefits will reduce the minimum limit of the business volume to just EGP 250 thousands instead of EGP one million. The scheme maximum limit will be less than EGP 50 million.

The abovementioned segments will have access to credit facilities with a lower interest rate of five percent under the scheme, launched on January 11, 2016.

The decision comes as part of the country’s keenness on boosting the agriculture sector, which is a main pillar of Egyptian economic development.