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New effort to boost tourism sector being considered by Cabinet: Central Bank of Egypt

 Sunday, July 30, 2023

According to the Central Bank of Egypt (CBE), a new effort to boost the tourism sector is now being considered by the ministries of tourism and finance, awaiting Cabinet approval.

According to the CBE, the present initiative to help the industry has been terminated by the Cabinet; as a result, banks must desist from providing any additional funding under the old plan.

According to the statement, this action was done in compliance with Cabinet Decision No. 4151 of 2022. It required that the Ministry of Finance monitors new (and future) initiatives, as well as any changes made in accordance with the decision’s rules.