Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, revealed that the Central Bank of Egypt intends to launch a fund to support producers, especially the industrial sector.
The Minister of Industry and Transport affirmed the keenness of Egyptian banks to provide the necessary financing to productive and industrial establishments in Egypt and not limit themselves to financing and supporting consumer projects, which is reflected in the initiative that the Central Bank of Egypt intends to launch to establish a fund to support producers in various fields, especially the industrial sector, as it is currently underway. Coordination between the Ministry of Industry and the Central Bank to identify priority productive sectors eligible for financial support from banks, in order to procure machinery and equipment.
The Minister of Industry and Transport pointed out continued coordination with the Ministry of Finance and the Central Bank of Egypt to make the 15% industry financing initiative amounts available to manufacturers, as the priority industrial sectors have been arranged to obtain support for the initiative according to what was reported from the industrial chambers in the industries (pharmaceutical – engineering – building materials – textile). Food and Chemical) with a total required loans of 7.776 billion pounds.
