75 Closed Factories in Egypt Seek Financing

For those seeking evidence of the economic situation in Egypt, a recent study reveals that about 75 closed factories in Egypt need about 7 billion pounds ($1.2 billion dollars) to re-open. Some of these Egyptian factories, which are currently seeking financing, have been closed since before the 25 of January revolution.

A delegation of private sector workers met with Dr. Essam Sharaf, the Egyptian Prime Minister, and explained why it is necessary to provide financing to reopen the closed factories that happen to be owned by businessmen that have problems with the government.

The factories employ hundreds of innocent workers who are paying the price for the faltering relationships between the businessmen and the government. After the meeting, the Egyptian Prime Minister requested Egyptian banks create a special fund to finance the failing factories taking advantage of available infrastructure and trained laborers.