As per Presidential guidance to closely follow developments in global markets, and the inflationary wave and its impact on the local market, the Central Bank of Egypt (CBE) reaffirmed its use of all monetary policy tools to confront developments related to the global inflationary wave, and the rise in prices that resulted from the increase in demand with the start of economic recovery.
The CBE pointed to the continuation of initiatives and efforts to support sectors affected by the Corona crisis, including the small and medium enterprise sector. As a result of these efforts and initiatives, the value of the increase in the loan portfolio for medium, small and micro enterprises between December 2015 and June 2021 amounted to about EGP 268 billion for more than one million projects. This comes as part of the CBE’s initiative to increase the portfolio of loans and credit facilities directed to these enterprises, to reach 25%.
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