Promoting Industrial Growth and Encouraging Foreign Direct Investment in Egypt
COVID-19 Crisis
- Factories are struggling with collecting receivables, both in the domestic and foreign markets.
- Grant manufacturers an exceptional moratorium on bank payments, and waive any late payment penalties or fines that would otherwise apply.
- On March 22, 2020, CBE issued a directive placing a moratorium on repayments of principal and interest under existing credit facilities for 6 months.
- The directive applies to all clients.