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CBE extends tourism funding repayment period

CBE extends tourism funding repayment period
The initiative allows tourism companies to obtain soft loans

Cairo – Mubasher: The Central Bank of Egypt (CBE) has made amendments to its recently-launched tourism support initiative with a guarantee worth EGP 3 billion.

The initiative allows tourism companies to obtain soft loans to cover wages of their employees for three months, the CBE said.

The grace period was extended to start from the date of facility payment instead of May 2020 and the term of the loan repayment was also extended to three years instead of two.