50 million pounds for developing the Egyptian exports

The Egyptian government decided to specify 50 million pounds for developing and increasing the volume of Egyptian exports through the Egyptian Bank for Developing Exports. A press statement issued by the bank today stated that the government agreed to grant this amount as a loan to the bank at an interest of 6% on the condition that the bank provide the required loans to the exporters at an interest rate of 8.5%.

The statement also said the bank obtained an allowance period of 8 years, during which the loan will be paid in 14 installments.