CAIRO - 14 January 2023: Egypt will adopt a five-year initiative worth LE 150 billion to support the agricultural and industrial production sectors, especially by reducing their loans’ interests, in the face of the repercussions of the global crises, the Cabinet has announced. The initiative will come into effect after the cabinet’s approval this week, the Cabinet said in a statement on Wednesday. Mohamed El-Sewedy, head of the Federation of Egyptian Industries (FEI), affirmed that the initiative will suit the largest segment of manufacturers and farmers. Madbouly stressed that initiative will be implemented as soon as it is approved by the Cabinet during this week meeting. This includes more than $613 million worth of goods required for industrial purposes, including food products, primary industrial supplies, and spare parts, the statement said.

Source: Egypt Today January 14, 2023 17:32 UTC