Egypt launches $282.7mln tranche of immediate cash payment initiative’s 6th phase

Egypt launches $282.7mln tranche of immediate cash payment initiative’s 6th phase

The Egyptian Export Development Fund has issued certificates of the first tranche of the sixth phase of the immediate cash payment initiative to support exporters with a total assistance of EGP 8.7 billion and a net amount of EGP 7.4 billion, Minister of Trade and Industry Ahmed Samir announced on June 24th. This comes within the framework of implementing the initiative in cooperation with the Ministry of Finance. The number of applicants for the first tranche of the initiative’s sixth phase stood at 1,130 exporting companies, Executive Director of the Export Development Fund Amany El-Wesal said. Net assistance, after deductions and debts, reached EGP 7.4 billion, she pointed out. El-Wesal added that the number of companies that postponed reviewing their debts with relevant authorities or did not settle their debts is 98 companies Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).