Arab Finance: The Egyptian government has launched a new loan initiative offering a subsidized 15% interest rate to ceramic and porcelain manufacturers for the purchase of equipment and production materials, according to a statement from the Ministry of Industry and Transport.
In cooperation with the Ministry of Finance, a clearing house will be formed to enable the supply of ceramic and porcelain to ministries of housing and transport, as well as the Egyptian Armed Forces Engineering Authority, in exchange for the value od debts owed by ceramic factories.
This initiative is aimed at helping ceramic manufacturers overcome defaulting on their debts.
Minister of Industry Kamel El-Wazir stated that the Industrial Development Authority (IDA) is collaborating with the Federation of Egyptian Industries (FEI) to identify priority sectors that will benefit from the loans.
This program is part of broader efforts to support industrial growth and enhance production capabilities in key sectors across the country.
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