The Ministry of Finance will disburse EGP 3 billion as of June 27th to support 362 export companies under the immediate cash payment initiative to repay arrears owed to the Exports Development Fund.

The Ministry of Finance will start disbursing EGP 5 billion as of June 6th to support 360 export companies under the immediate cash payment initiative to repay arrears owed to the Exports Development Fund, Minister of Finance Mohamed Maait announced.

The Ministry of Trade and Industry, represented by the Export Development Fund, has issued the first tranche of certificates under the seventh phase of the immediate cash payment initiative to 478 companies at a gross of EGP 7 billion and a net of EGP 6.3 billion.

The total number of applicants for the seventh phase of the immediate cash payment initiative to back exporters has reached 1,400 companies since March 10th, Minister of Finance Mohamed Maait announced.

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.

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.