CBE Amends Tourism Support Initiative, Extending Implementation Period Until October 2026
The Central Bank of Egypt (CBE) issued a new circular on May 24, 2026, outlining fresh amendments to the parameters of the tourism sector support initiative funded by the Ministry of Finance. The move implements the Cabinet's Decree issued during session No. 90, held on April 29, 2026.
Enhancing Initiative Utilization The CBE explained in the circular that these new amendments refer back to the previous circular issued on October 20, 2024, regarding the Cabinet’s approval to launch the tourism sector support initiative, alongside subsequent related amendments. The changes aim to enhance the utilization of the initiative by hotel and tourism companies, and to expand the scope of benefiting from the available funds within the allocated financing.
The Central Bank pointed out that the Cabinet approved the utilization of the remaining amount, or the so-called "surplus funds," from the initiative's total allocation of EGP 50 billion. This comes after the application registration window closed on the CBE's electronic system on April 20, 2026.
Extension Window and Credit Limits The amendments also allow previously registered amounts on the CBE system that were not yet activated to benefit from the initiative. These amounts must be activated within a six-month period ending on October 20, 2026, granting companies and banks an additional opportunity to finalize the procedures for accessing the designated financing under the initiative.
The CBE emphasized that the credit limit available for each company will be determined based on its business volume and the standard regulating banking rules applied within the banking sector. The maximum financing limit for a single client shall not exceed EGP 2 billion, while strictly adhering to the initiative's overall cap of EGP 50 billion.
The circular added that the maximum financing limit for a single client and its related parties may be increased to reach EGP 4 billion, provided that joint approval is secured from both the Minister of Finance and the Minister of Tourism and Antiquities, while continuing to respect the total maximum value of the initiative. The Central Bank of Egypt stressed the necessity for banks to comply with all regulations and instructions mentioned in the circular and to execute the new amendments according to the specified mechanisms, thereby supporting the tourism sector and boosting its capacity to complete operational, expansion, and efficiency upgrade plans for hotel and tourism facilities.