Egypt to release EGP 1.9b export support today – minister

The Ministry of Finance will disburse on Thursday a new tranche of financial support for exporters, amounting to 1.9 billion Egyptian pounds, according to Minister Ahmed Kouchouk’s latest statements. This latest disbursement benefits 560 companies and is part of the seventh phase of the Immediate Cash Payment Initiative.

Since the programme’s inception in June, a total of 13 billion pounds has been distributed to 1,590 exporters. This brings the cumulative support provided to exporters since October 2019 to approximately 66.9 billion pounds.

The Egyptian government has allocated a total of 23 billion Egyptian pounds for export support in the current fiscal year, demonstrating its commitment to boosting the country’s export sector.