{"id":582409,"date":"2023-03-08T00:00:00","date_gmt":"2023-03-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/"},"modified":"2023-03-08T00:00:00","modified_gmt":"2023-03-08T00:00:00","slug":"cbe-unveils-terms-of-new-subsidized-lending-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/","title":{"rendered":"CBE unveils terms of new subsidized lending program"},"content":{"rendered":"

Ts & Cs of new subsidized loans: <\/span>The Central Bank of Egypt (CBE) is capping the funding <\/span>provided for a single individual at EGP 75 mn and a total of EGP 112.5 mn per individual and all related parties under the new subsidized lending program for industry and agriculture players, the bank said in a <\/span>statement (pdf)<\/a><\/span> laying out the terms and conditions yesterday.<\/span><\/p>\n

REMEMBER- <\/span>The government <\/span>introduced a new EGP 150 bn subsidized loan<\/a><\/span> program for industry and agriculture last year shortly after the central bank announced it would <\/span>stop handing out soft loans<\/a><\/span> as part of the loan agreement with the IMF. The IMF agreement required the central bank to transfer responsibility for funding subsidized loans to the state, which is now offering industrial and agricultural companies 11% loans, slightly more expensive than the CBE\u2019s previous 8% rate.<\/span><\/p>\n

Also worth noting:<\/span> The vast majority of the funding (EGP 140 bn) will go towards funding working capital while the remaining EGP 10 bn will finance the purchase of machinery and equipment. The program will last five years and the Finance Ministry will bear the cost of financing the interest rate.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The CBE has handed responsibility for subsidized loans to the FinMin under the IMF deal.<\/p>\n","protected":false},"author":1,"featured_media":582410,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[97,271,7106,72,272,7196],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-agriculture","tag-central-bank-of-egypt","tag-debt","tag-enterpriseam","tag-imf","tag-industry","wpautop","entry"],"acf":{"mongo_id":"9f91a106-51a3-4a1b-8d51-3b1c9dda41f5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/6\/Manufacturing-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"CBE unveils terms of new subsidized lending program","related_issue":[582394],"teaser":"The CBE has handed responsibility for subsidized loans to the FinMin under the IMF deal.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.b054415f-5137-4003-aaeb-afa03ce940a0.mp3"},"yoast_head":"\nCBE unveils terms of new subsidized lending program - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBE unveils terms of new subsidized lending program\" \/>\n<meta property=\"og:description\" content=\"The CBE has handed responsibility for subsidized loans to the FinMin under the IMF deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-08T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/Manufacturing-1600px.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CBE unveils terms of new subsidized lending program\",\"datePublished\":\"2023-03-08T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/\"},\"wordCount\":192,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/Manufacturing-1600px.jpg?fit=%2C&ssl=1\",\"keywords\":[\"agriculture\",\"Central Bank of Egypt\",\"debt\",\"EnterpriseAM\",\"IMF\",\"industry\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/cbe-unveils-terms-of-new-subsidized-lending-program\/\",\"name\":\"CBE unveils terms of new subsidized lending program - 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The program is set to launch next week, immediately\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/192.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571401,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/11\/cbe-may-extend-subsidized-loan-program-to-contractors\/","url_meta":{"origin":582409,"position":1},"title":"CBE may extend subsidized loan program to contractors","author":"enterpriseam admin","date":"11 May 2020","format":false,"excerpt":"CBE may extend subsidized loan program to contractors: CBE Governor Tarek Amer will propose allowing contractors to access subsidized loans under the bank\u2019s EGP 100 bn industry stimulus initiative at the next board meeting, he said in an interview with MENA picked up by the local press. Amer stressed the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":585040,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/10\/no-interest-rate-hikes-on-soft-loans-to-industry-agriculture-players\/","url_meta":{"origin":582409,"position":2},"title":"No interest rate hikes on soft loans to industry, agriculture players","author":"enterpriseam admin","date":"10 April 2023","format":false,"excerpt":"Subsidized loans will stay at 11% despite the CBE\u2019s rate hike","rel":"","context":"In "Debt"","block_context":{"text":"Debt","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591559,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/10\/cbe-to-compensate-bank-lending-under-egp-150-bn-industrial-mortgage-programs\/","url_meta":{"origin":582409,"position":3},"title":"CBE to compensate bank lending under EGP 150 bn industrial, mortgage programs","author":"enterpriseam admin","date":"10 December 2019","format":false,"excerpt":"CBE breaks down how it will compensate bank lending under EGP 150 bn industrial, mortgage programs: The Central Bank of Egypt (CBE) will ensure banks have at least 200 bps of margin when they loan out to factories and homebuyers under the two subsidized lending initiatives it recently launched with\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/92.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577644,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/30\/the-end-of-subsidized-loans-to-industry\/","url_meta":{"origin":582409,"position":4},"title":"The end of subsidized loans to industry","author":"enterpriseam admin","date":"30 November 2022","format":false,"excerpt":"Subsidized loans to industrial, agricultural, and construction companies will be axed, Deputy Central Bank of Egypt (CBE) Governor Gamal Negm said during a cabinet meeting yesterday. Borrowers who have already taken out loans under the program will continue to benefit from the subsidized 8% interest rate. However, industry players who\u2026","rel":"","context":"In "Debt"","block_context":{"text":"Debt","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/499.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577375,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/central-bank-to-end-support-for-subsidized-loans\/","url_meta":{"origin":582409,"position":5},"title":"Central bank to end support for subsidized loans","author":"enterpriseam admin","date":"21 November 2022","format":false,"excerpt":"The Central Bank of Egypt is going to stop providing funding for subsidized loans and pass the responsibility to the housing, finance and tourism ministries, under a decree issued by Prime Minister Moustafa Madbouly in the Official Gazette yesterday. 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