Cairo Chamber Increases Disaster Fund’s Capital To EGP10 mln

The board of Cairo Chamber of Commerce in Egypt has decided to increase the capital of the disaster fund to EGP 10 million in order to protect the traders from the risks and to lessen the costs of the commercial activities.

Amr Khedr, Secretariat of Cairo Chamber, has underscored the necessity of raising the capital of the fund to keep pace with the new challenges that hamper the activities of entrepreneurs and investors; referring that the decision provides that the monthly subscription is EGP 255.

On the same context, Khedr indicated that the board’s meeting, which is going to be held tomorrow, will discuss the reasons that made the traders abstain from getting the EGP 50.000 loan of the United Bank.

The meeting also will look into the crisis of putting up the prices as well as the preparations are being made by the government to provide the commodities in Ramadan (an Islamic month) and the coming summer.