Finance minister unveils EGP 5bn cash payout for 2,000 exporters on 7 August
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.
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.
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Daily News Egypt
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Daily News Egypt
4 minutes ago
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