Egypt’s new effort to help tourism

Tuesday, July 25, 2023

Egypt’s Central Bank recently said that a new campaign to help the tourism industry by the ministries of finance and tourism is at present under consideration, looking for the cabinet’s sanction. 

CBE also said that the present initiative to perk up the sector was removed by the Cabinet; therefore, banks will have to desist from offering any new financing in the structure of the old plan. 

It also stated that this initiative was adopted in accordance with the decision of the cabinet No. 4151 of 2022. It set that the Ministry of Finance investigates on new initiatives, and any alteration to be made, as per the controls in the decision.

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