Cairo – Mubasher: The National Bank of Egypt (NBE) on Sunday announced that it had increased its fund for hotels renewal to about EGP 1.2 billion to fund 12 hotels, said the bank’s deputy chairman Yehia Abu El-Fotouh Ibrahim.
The hotel-funding initiative aims at supporting tourism sector in Egypt, among the recent developments and the positive expectations regarding the occupancy rates, Ibrahim added, according to Al Mal newspaper.
The NBE helped its clients in tourism sector by deferring the payment of their debts more than once, pursuant to the instructions of the Central Bank of Egypt (CBE), the deputy chairman concluded, as Al Mal reported.
