{"id":625332,"date":"2018-08-01T03:57:39","date_gmt":"2018-08-01T03:57:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/01\/fei-expresses-reservations-about-cbes-egp-16-8-bn-debt-relief-program\/"},"modified":"2018-08-01T03:57:39","modified_gmt":"2018-08-01T03:57:39","slug":"fei-expresses-reservations-about-cbes-egp-16-8-bn-debt-relief-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/01\/fei-expresses-reservations-about-cbes-egp-16-8-bn-debt-relief-program\/","title":{"rendered":"FEI expresses reservations about CBE\u2019s EGP 16.8 bn debt relief program"},"content":{"rendered":"

The Federation of Egyptian Industries (FEI) has expressed some reservations about the CBE\u2019s EGP 16.8 bn debt relief program,Al Mal reports<\/a><\/u>. Their chief concerns have to do with implementing the debt relief program. There are no guarantees in the initiative that businesses that will benefit from it will invest in growing their companies, members of the FEI\u2019s investment policy committee said. A businessman can get the relief, then up and sell their debt-free business right away. Other reservations include the lack of a system to monitor compliance with the terms of the initiative, they noted. The program, which was launched the CBE in June,<\/a><\/u> will help around 3,500 business with assets less than EGP 10 mn, as well as some 337k individual borrowers, who have taken out loans from nine state bank Under the program, businesses targeted by the initiative will see a total of EGP 12 bn in relief, while individual borrowers will see some EGP 4.8 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Federation of Egyptian Industries (FEI) has expressed some reservations about the CBE\u2019s EGP 16.8 bn debt relief program,Al Mal reports. Their chief concerns have to do with implementing the debt relief program. There are no guarantees in the initiative that businesses that will benefit from it will invest in growing their companies, members of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9315],"tags":[72,2390],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625332","post","type-post","status-publish","format-standard","hentry","category-other-business-news-of-note","tag-enterpriseam","tag-other-business-news-of-note","wpautop","entry"],"acf":{"mongo_id":"6e1f0a2d-ca97-4354-ac1a-4f8035bb3556","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"FEI expresses reservations about CBE\u2019s EGP 16.8 bn debt relief program","related_issue":[625297],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.cde01ac9-be49-48d0-a6bb-fe135c441de2.mp3"},"yoast_head":"\nFEI expresses reservations about CBE\u2019s EGP 16.8 bn debt relief 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\/2018\/08\/01\/fei-expresses-reservations-about-cbes-egp-16-8-bn-debt-relief-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FEI expresses reservations about CBE\u2019s EGP 16.8 bn debt relief program\" \/>\n<meta property=\"og:description\" content=\"The Federation of Egyptian Industries (FEI) has expressed some reservations about the CBE\u2019s EGP 16.8 bn debt relief program,Al Mal reports. Their chief concerns have to do with implementing the debt relief program. 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The central bank had launched in June the initiative to forgive EGP 16.8 bn-worth of interest payments on\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":628258,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/cbe-launches-egp-16-8-bn-debt-relief-program\/","url_meta":{"origin":625332,"position":1},"title":"CBE launches EGP 16.8 bn debt relief program","author":"enterpriseam admin","date":"28 June 2018","format":false,"excerpt":"CBE launches EGP 16.8 bn debt relief program: The central bank has launched a sweeping debt relief initiative that could forgive some EGP 16.8 bn worth of interest payments on non-performing loans held by state-owned banks, according to a CBE statement (pdf) issued on Wednesday. The program will help around\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":600854,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/12\/cbe-to-relaunch-its-egp-16-8-bn-debt-relief-program\/","url_meta":{"origin":625332,"position":2},"title":"CBE to relaunch its EGP 16.8 bn debt relief program","author":"enterpriseam admin","date":"12 February 2019","format":false,"excerpt":"The CBE is looking likely to relaunch its EGP 16.8 bn debt relief program by no later than April, sources familiar with the matter said, according to Al Mal. The program was launched by the central bank between June-December 2018 and was designed have state-owned banks waive EGP 16.8 bn-worth\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\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":605237,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/26\/central-bank-of-egypt-could-still-be-looking-into-extending-debt-relief-program\/","url_meta":{"origin":625332,"position":3},"title":"Central Bank of Egypt could still be looking into extending debt relief program","author":"enterpriseam admin","date":"26 December 2018","format":false,"excerpt":"CBE still considering extending the debt relief program? The CBE is reportedly still considering extending its EGP 16.8 bn debt relief program, sources told Al Mal. In a conflicting report earlier this week, banking sources had claimed the CBE was not considering the extension. 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Speaking after the Nile Pioneers Initiative yesterday, Negm said 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":628944,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/cbes-debt-relief-program-will-be-a-breath-of-fresh-air-for-industry-and-agriculture\/","url_meta":{"origin":625332,"position":5},"title":"CBE\u2019s debt relief program will be a breath of fresh air for industry and agriculture","author":"enterpriseam admin","date":"17 May 2018","format":false,"excerpt":"The CBE\u2019s debt relief program for businesses with non-performing loans will be a breath of fresh air for industry and agriculture alike, Dorreya Sharaf El Din writes in a column lacking any real opinion or analysis. 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