Egypt’s CBE amends tourism support initiative

Egypt’s CBE amends tourism support initiative

Cairo –  The Central Bank of Egypt (CBE) amended some provisions of its tourism support initiative guaranteed by the Ministry of Finance, according to a statement on Monday.The second clause which provides for the payment of the salaries of employees in the tourism sector for a six-month period starting from the date of the provision of credit facilities to customers has been amended to include a maximum limit of EGP 30 million per customer and EGP 40 million per customer and associates and the six-month period was removed.A new amendment also stipulates that the initiative will end after the allocated amount (EGP 3 billion) is exhausted or by June 2021, whichever is closer. The grace period has been extended to the end of December 2021 from June 2021.Source: MubasherAll Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).