|21 January, 2020

Egyptian gov’t to support tourism investors with $18.98mln

Several employees and workers in the tourism sector are also expected to benefit from the initiative

Landscape of Cairo, with the Giza pyramids behind. Image used for illustrative purpose.

Landscape of Cairo, with the Giza pyramids behind. Image used for illustrative purpose.

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Cairo: Investors in the Egyptian tourism sector is expected to receive EGP 300 million in the coming period under the government initiative to support tourism, the head of Egypt's Hotels Association Maged Fawzi stated on Tuesday.

Several employees and workers in the tourism sector are also expected to benefit from the initiative, Fawzi added, according to a statement.

It is worth highlighting that the Egyptian government and the Central Bank of Egypt (CBE) have launched three initiatives totalling EGP 150 billion to encourage and support the private industrial sector and mortgage for middle-income housing.

The government and the CBE also launched EGP 50 billion initiative to support the tourism sector.

Source: Mubasher

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