Egypt’s CBE extends its tourism rescue initiative until December 2019

The Central Bank of Egypt (CBE) has granted a one-year extension to its tourism rescue initiative for investors and businesses operating in the sector, according to a statement yesterday. The CBE will accept requests to reschedule debt owed by tourism companies for up to three years, and will grant a six-month extension for personal loans taken out under the initiative by those working in the sector. We noted last week that the CBE also extended its loan grace period for South Sinai tourism investors till December 2019.