The Central Bank of Egypt (CBE) agreed to renew the mortgage financing initiative for mid-income housing units, according to the Chairman of the Real Estate Development Chamber, Hisham Shoukry. He added that the initiative will be re-introduced in July, with funding offered with an interest rate of 10.5%, which should give a strong push to the real estate market in the coming period. The CBE has announced earlier this year that it had decided to continue the mortgage finance initiative for the low-income segment only, after banks have fully disbursed the EGP20bn that were allocated to the initiative, which was first launched in 2014 with an initial EGP10bn disbursement and added a second EGP20bn disbursement late last year.