The Ministry of Finance has announced that the first batch of the sixth phase of the lump-sum export subsidy payment initiative will start next week. Sabbour explained that the exchange procedures are carried out through four banks, namely the NBE, and Banque Misr, Banque Du Caire, and the Egyptian Export Development Bank. She added that more than EGP 42bn have been disbursed to exporting companies, since the start of initiatives, to pay the late dues to exporters at the Export Development Fund in October 2019 until now. The sixth phase of the initiative was very popular with companies. This aims to expand productive and export activities, especially in light of the exceptional circumstances in the global economy.

Source: Daily News Egypt July 06, 2023 07:44 UTC