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The Central Bank of Egypt and the Ministry of Industry launched the Distressed Factories Restructuring Fund with total capital of EGP 1 billion, according to an October 2 ministry update. Industry Minister Khaled Hashem asked factories seeking support to register on the Manufacturers Support Platform and select its “Distressed Factories” service so their eligibility can be assessed.
The ministry described the fund as part of an initiative to help troubled factories resume production, preserve productive capacity and strengthen domestic manufacturing. Applications will be assessed under the fund’s criteria. The Manufacturers Support Platform is also available as a mobile application for Android and iOS.