Bailout fund for financially distressed factories to begin work by March

A Trade Ministry fund, managed by Union Capital and BPE Partners, meant to provide assistance to factories in financial distress will not begin its work before March, Al Borsa reported. According to an Administrative Control Authority survey, only 170 factories of 1,600 factories tallied are expected to bounce back from their financial troubles if bailed out. Union Capital CEO Hany Tawfik told the newspaper that the criteria to determine funding priority are still under study.