Cairo – Mubasher: A total of 8,600 customers are included in the Central Bank of Egypt’s (CBE) initiative for funding customers in default, including 800 in the industrial sector, the CBE’s governor Tarek Amer revealed.

Non-performing loans (NPLs) worth EGP 18.4 billion owed by 142 customers, including 89 in the industrial sector, have been settled until 6 February 2020, Amer said in a statement released by the Egyptian cabinet on Tuesday.

Interest and loan payments worth EGP 10.6 billion have been waived, he added.

Lawsuits against 90 customers have been dropped and the number of companies that will re-open or raise the capacity of its factories reached 81.

In addition, the CBE also met with 45 major customers up to 6 February and agreed to settle EGP 37 billion worth of debts, after waiving EGP 5.4 billion in interest and loan payments.