Banks must restructure credit facilities for businesses struggling because of the pandemic, the Central Bank of Egypt has said as it unveiled a range of measures to help smaller firms. Other policies signed off by the board of directors include increasing loan periods, restructuring the outstanding installments, and giving businesses appropriate grace periods. The Central Bank also decided to establish a supervisory framework for non-performing loans, as well as setting a specific time frame within which banks will execute non-performing facilities. The Bank said these decisions were taken in light of the continuing repercussions of the coronavirus crisis and its impact on various economic sectors, specifically the impact on the ability of small and medium-sized companies to meet their obligations with banks, which may increase the possibilities of accumulating debts on them. According to government data, the Egyptian economy achieved a growth rate of 9.8 percent during the first quarter of the 2021/22 fiscal year, compared to a growth rate of 0.7 percent during the first quarter of the last fiscal year. It is expected that the annual growth rate will continue to rise to between 5.5 percent and 5.7 percent by the end of the current fiscal year.