Cairo –  The Central Bank of Egypt (CBE) amended some provisions of its tourism support initiative guaranteed by the Ministry of Finance, according to a statement on Monday.

The second clause which provides for the payment of the salaries of employees in the tourism sector for a six-month period starting from the date of the provision of credit facilities to customers has been amended to include a maximum limit of EGP 30 million per customer and EGP 40 million per customer and associates and the six-month period was removed.

A new amendment also stipulates that the initiative will end after the allocated amount (EGP 3 billion) is exhausted or by June 2021, whichever is closer. The grace period has been extended to the end of December 2021 from June 2021.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.