Egypt offers investment land plots in 20 new cities to attract investors    Egypt's foreign minister holds talks on reviving Iran nuclear negotiations    Israel intensifies Gaza offensive amid renewed diplomatic efforts, international pressure    Egypt launches annual coral reef monitoring programme in Red Sea    Egypt, Italy explore closer cooperation in military, civilian manufacturing    Emaar Misr, Citystars to develop EGP 900bn 'Marassi Red Sea' resort in Egypt    Madbouly meets with SunRev Solar to localize renewable energy component manufacturing    Egypt marks International Day of Clean Air at Wadi Degla Protectorate    Egypt launches hospital safety assessor training with WHO support    International force deployment in Gaza possible if requested by Palestinians: Egypt's FM    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egypt's FM vows full support for UNRWA amid Gaza crisis, Israeli pressure    Egyptian pound ends week lower against US dollar – CBE    Egypt expresses condolences to Sudan after deadly Darfur landslides    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Industry Ministry, CBE seek provision of soft loans for industrial companies
Committee to be formed to determine mechanisms and procedures of providing funding and ensuring ability of companies to repay, says minister
Shaimaa Al Aees Published in Daily News Egypt on 05 - 12 - 2016

The Ministry of Industry and Trade is coordinating with the Central Bank of Egypt (CBE) to provide soft loans from banks to finance the working capital of industrial companies, according to minister Tarek Kabil.
The loans should help industrial companies purchase of raw materials.
Kabil said that a committee will be formed, consisting of officials from the ministry and the Federation of Egyptian Industries, to determine the mechanisms and procedures of providing the funding and ensuring the ability of companies to repay the loans.
He added that the ministry seeks to develop the textile industry sector across all supply chains, from the yarn and fabric to the final garment or furnishings, especially in light of the substantial competitive advantages in this strategic sector.
The minister noted that the ministry is keen to increase the added value of Egyptian textile products through launching a distinguished trademark to brand Egyptian products.
Kabil pointed out that the Industrial Modernisation Centre (IMC) is currently assisting companies that want to brand their products, which contributes to increasing the competitiveness of these products both in and outside the local market.
Regarding the demands of manufacturers to provide a fund to support exports of the final products, the minister noted that the new system of export support, approved in July, stipulates that the funding will depend on the size of the added value of the final product.
Kabil pointed out that the Industrial Training Council, affiliated to the ministry, has signed a cooperation protocol with a textile company in Borg El-Arab, Alexandria. Investments from Italy will facilitate the provision of training programmes for the company's training centre officials to train employees according to Italian curricula to improve their qualifications and skills.

Clic here to read the story from its source.