Immediate cash payment of late dues to Egyptian exporters sees increased demand: Finance Minister

Immediate cash payment of late dues to Egyptian exporters sees increased demand: Finance Minister

Egypt's Minister of Finance Mohamed Maait has revealed that the initiative providing immediate cash payment of late dues to exporters, set up with the Export Development Fund, has experienced increasing demand.

"Since the beginning of November, the Ministry [of Finance] has received requests from 650 companies wishing to benefit from this initiative,“ Maait said, "It allows the immediate payment of dues by discounting an accelerated payment of 15% of the total value, instead of paying them in instalments over four or five years.“