Arab Finance: Egypt will disburse around EGP 4 billion in assistance to 744 exporting companies as the third tranche under the sixth phase of the country’s immediate cash payment initiative on August 16th and 17th, Minister of Finance Mohamed Maat stated on August 14th.
This brings the total assistance of the initiative’s sixth phase to roughly EGP 12 billion for 1,558 exporting companies, he added.
Payment procedures will be carried out by the National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and the Export Development Bank of Egypt (EBank), Deputy Advisor to the Minister of Finance Niveen Mansour said.
She added that the country has disbursed over EGP 50 billion to exporting companies since the launch of cash repayment initiatives in 2019.