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CAIRO — The governor of the Central Bank of Egypt, Tarek Amer, announced May 10 an initiative to help troubled factories, in cooperation with Egyptian banks, by keeping more than 5,000 faltering factories afloat and lowering the interest of their debts. The initiative received broad acclaim among economic circles, but it has, at the same time, raised questions about its ability to save those factories.
Al-Monitor attended the event organized by Al-Ahram Foundation during which Amer explained that the initiative will include large exemptions for more than 5,000 factories with bank debts and write off the delay penalties and loan interest.
