Farmer’s syndicate head calls on CBE for bank loan extension

Farmer’s Syndicate head Hussein Abdel Rahman called on the Central Bank of Egypt (CBE) to extend the deadline for its initiative to support farmers, under which banks exempt debtors from paying accrued interest on unpaid loans if they pay their principal amounts before 31 December, AMAY reports. Under the CBE’s initiative, state-owned banks settle debts under EGP 10 mn with “distressed” farmers and businesses, withdraw any legal charges, and remove debtors from the CBE and the Egyptian Credit Bureau (iScore) blacklists.