Exporters receive EGP 2.4 bn arrears as part of export support programme phase II

Exporters have received 2.4 billion Egyptian pounds of subsidy arrears from the Export Development Fund since February as the Trade and Industry Ministry launched the second phase of the export support initiative

The subsidy programme allows exporters to receive their payments lump-sum, provided they take discount of 15 percent.

The ministry has also extended until the end of April the deadline for exporters to apply for subsidy payments, to receive the payments in June.

Egypt’s government has launched the second phase of export support initiative  at the beginning of the year to repay the exporters their overdue, announcing that the registration will open as of 7 February through until the end of the month.