Central bank governor, Tarek Amer, told the agency: The decision comes during "increased business risks in the market, especially with regards to companies and finance."
The loans will carry an interest rate of 8%, well below the central bank's key overnight lending rate of 10.25%.
The coronavirus pandemic has wreaked havoc on Egypt's economy, particularly with the virtual shutdown since March of the country's tourism industry, which represents about 5% of gross domestic product, and the closure of restaurants and cafes.