Four banks will participate in the sixth phase of the lump-sum export subsidy payment initiative, which was approved by the Cabinet last week. The launch of this phase comes within the framework of the state’s efforts to complete the payment of export subsidy dues, to encourage companies to increase their exports. Mohamed Maait, Minister of Finance, said that the cabinet agreed to launch the sixth phase of the initiative at a value of EGP 10bn. Maait explained that the sixth phase of the initiative aims to cover exports until 31 December 2022, with the same previous controls. He pointed out that the same export support rules for the fiscal year 2021/2022 will be applied to export support dues for the fiscal year 2022/2023.
