CAIR – 17 February 2021: The Egyptian government spent about LE 21.5 billion during a year to support the export sector and exporters, through 6 initiatives, Minister of Finance, Mohamed Maait, stated Wednesday. Maait clarified that the last initiative was "immediate cash payment" with a 15 percent discount. Maait added in a statement that about 1096 exporting companies joined the first phase of the immediate cash payment initiative in the government’s support to exporters, all of whom disbursed all the overdue amounts with the Export Development Fund before 2021. “It was very well received by the exporters,” the minister commented. It took about two months from the day the applications were opened to the last exchange day, according to Maait.

Source: Egypt Today February 17, 2021 10:52 UTC