• Egypt gives $128 million for tourism

    14 days ago - By Travel and Tourworld

    As per a bank statement, the first tranche will start with 1 billion Egyptian pounds for the Credit Risk Guarantee Company. This is to make sure that the balances of the guarantees issued by the company for banks, to cover a fraction of the associated risks and to sponsor companies related to tourism.
    The statement mentioned that this move has been introduced to put back as well as renovate land hotels, floating hotels and tourist transport companies. It does not comprise the 3 billion Egyptian pounds allocated by the Ministry of Finance.
    The Egyptian Central Bank explained that this...
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