Egypt's minister unveils $102mln cash payout for 2,000 exporters on August 7
This payment represents the first instalment—equivalent to 50%—allocated under the new Cabinet-approved mechanism for settling overdue export support payments.
Covering shipments up to the end of June 2024, these payments are made through the Export Development Fund as part of the government's plan to clear all arrears owed to exporters over four consecutive fiscal years starting from the current one.
The initiative is designed to support the export sector by providing liquidity to help exporters boost their exports and enhance the global competitiveness of Egyptian products.
In a statement issued by the Ministry of Finance on Wednesday, Kouchouk added that, due to strong demand from exporters, the ministry will reopen applications from 17 August to 4 September 2025. This window will allow companies holding certificates from the Export Development Fund to submit the required documents and benefit from the mechanism, with a second payment scheduled for 18 September.
Nevine Mansour, Advisor to the Minister of Finance for Economic Institutional Relations
He further noted that the current fiscal year includes the largest-ever allocation for export support in the state budget, amounting to EGP 45bn. This will enable the reimbursement of export burdens for the current fiscal year within just three months of file completion, under the new mechanism adopted by the Cabinet to fully settle outstanding dues. This builds on earlier successful programmes launched since 2019, including the Immediate Cash Payment initiative in its seven phases, which benefited around 3,000 exporting companies with total payments of roughly EGP 70bn.
Nevine Mansour, Advisor to the Minister of Finance for Economic Institutional Relations, clarified that the first instalment under the new mechanism will be disbursed through the National Bank of Egypt, Banque Misr, Banque du Caire, and the Export Development Bank of Egypt. She added that, in cooperation with the Central Bank and the banking sector, payments for companies that do not hold accounts at these four banks will be transferred to their accounts at other banks without any administrative fees, further streamlining the disbursement process.
© 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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