The Egyptian Cabinet has approved a six-month extension of the EGP 50 billion hotel financing initiative to expand the country's hotel capacity. Ministers of Finance and Tourism announced the decision, effective from October 20, 2025. The move responds to requests from investors seeking to complete ongoing and planned tourism projects.
Minister of Finance Ahmed Kouchouk and Minister of Tourism and Antiquities Sherif Fathy announced that the Cabinet has approved a six-month extension of the EGP 50 billion financial facilitation initiative, effective from October 20, 2025. The initiative aims to expand Egypt’s hotel capacity in line with the government’s targets for annual growth in tourist arrivals, with the state treasury covering the interest rate differential.
According to a joint statement from the Ministries of Finance and Tourism and Antiquities, the deadline for submitting applications and securing preliminary bank approvals has been extended from October 20, 2025, to April 20, 2026. The ministries noted that the extension addresses numerous requests from companies and investors eager to benefit from the initiative’s incentives to complete ongoing and planned tourism projects.
This move underscores the government’s commitment to balanced economic and fiscal policies that stimulate private sector growth, particularly in the tourism and hospitality sectors, which play a pivotal role in job creation, supporting ancillary industries, and increasing foreign currency inflows.