The Export Development Fund has disbursed a worth of EGP 785.5 million net to exporters within the third phase of the export subsidy dues lump-sum payment initiative.
Cairo- Oct 3, 2021
Within the implementation of the third phase of the lump-sum payment initiative for export subsidy arrears, Minister of Trade and Industry Nevine Gamea has announced that 338 payment vouchers have so far been issued by the Export Development Fund (EDF) to 456 export companies - out of 1,601- at a value of EGP 785.5 million net.
The initiative was jointly launched by the Ministries of Trade and Finance in collaboration with various banks. It allows exporters to receive 85% of the total amount of export subsidy arrears before the end of December, rather than being broken up into installments.