CAIRO - 23 February 2022: The Central Bank of Egypt (CBE) has launched a number of initiatives to mitigate repercussions of the coronavirus pandemic for the Egyptian economy. Proactive measures have also been taken, further alleviating the negative impact of Covid-19, which broke out in 2020. One of the most important CBE measures was to delay credit claims of clients for six months without additional returns or fines, according to a MENA report on Wednesday. The initiatives were introduced by the CBE with an 8-percent diminishing return. Two 50-billion-pound initiatives have as well been launched to support the tourism and middle-income mortgage, also with an 8-percent diminishing return.

Source: Egypt Today February 24, 2022 00:46 UTC