Egypt issues EGP 4.7B in 2nd tranche of immediate cash payment initiative’s 6th phase
Updated 8/13/2023 9:33:00 AM
Arab Finance: The Egyptian Export Development Fund has issued the second tranche of the sixth phase of Egypt’s immediate cash payment initiative with a total assistance of EGP 4.7 billion and a net amount of EGP 3.8 billion, Minister of Trade and Industry Ahmed Samir announced on August 12th.
The number of exporting companies applied for the second tranche of the initiative’s sixth phase has reached 1,193, covering several sectors, Executive Director of the Export Development Fund Amany El-Wesal said.
Net assistance, after deductions and debts, reached EGP 3.8 billion for 772 companies, she added.
El-Wesal pointed out that the number of companies of which debts exceeded its dues is 105 with a total assistance of EGP 400 million, while the number of those that postponed reviewing their debts with relevant authorities stood at 98 companies with total assistance of EGP 316 million
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