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600 export companies applied to get their arrears: Maait

600 export companies applied to get their arrears: Maait

ArabFinance: Around 600 applications from export companies that are willing to benefit from the cash repayment for exporters initiative were submitted to the Ministry of Finance last week, Ahram Online cited Minister of Finance Mohamed Maait.

Maait added that export companies can submit their applications until July 29th.

On June 30th, the ministry launched the third stage of the exporters support program that allows the companies to obtain their arrears from the Development Fund (EDF) as instant cash repayments.

Maait noted that the arrears of this stage are expected to be disbursed by end of September through end of October with an acceleration discount of 15%.

In 2020, the government launched the first stage of the initiative that targeted instant cash repayment of export companies’ arrears before the end of 2020, while it came into effect in November.

A sum of EGP 16.4 billion were disbursed to 2,000 export companies that registered in the programs’ two previous stages.

 

 

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04 Oct 2021
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