The disbursement to the exporting companies benefiting from this stage will be completed in subsequent payments on June 27 and August 8, with an expected estimated value that will reach EGP 10 billion.
Egypt will begin disbursing EGP 5 billion to 360 exporting companies that benefit from the instant cash payment initiative tomorrow, according to a statement by Minister of Finance, Mohamed Maait.
The disbursement to the exporting companies benefiting from this stage will be completed in subsequent payments on June 27 and August 8, with an expected estimated value that will reach EGP 10 billion.
Maait confirmed that the total value of government support provided to exporting companies over the past four years stands at approximately EGP 55 billion.
Moreover, this figure is expected to increase to EGP 70 billion once the allocated funds for the Instant Cash Payment initiative are disbursed.
The minister emphasized the government's strong commitment to allocating funds for various programs aimed at boosting economic activity, particularly in the industrial sector and export-related endeavors.
In FY2024/2025, a total of EGP 40.5 billion have been earmarked for these purposes. This allocation includes EGP 23 billion specifically designated to reduce the export burdens.
Earlier in May, Maait stated that Egypt would provide EGP 8 to beneficiaries of the instant cash payment initiative in support of exporters starting from June 6.
The eligibility for this offer extends to companies that have finalized their paperwork for shipments until June 30, 2023.
