CAIRO – 31 October 2024: Egypt has unveiled initiative to support the tourism sector, offering LE 50 billion in financing options and flexible repayment terms for tourism companies.
This initiative aims to increase hotel room capacity in key tourism areas, enhancing Egypt’s ability to host more visitors.
The Ministries of Finance and Tourism have jointly announced that priority will be given to the governorates of Luxor, Aswan, Greater Cairo, the Red Sea, and South Sinai.
Finance Minister Ahmed Kouchouk highlighted the state treasury’s role in providing subsidized interest rates on these funds for five years from the first financing disbursement, with the goal of stimulating growth in…