The government agrees to boost allocations for the export support initiative by 2 billion pounds

The Council of Ministers agreed to boost the amount of 10 billion pounds allocated for the sixth phase of the immediate payment initiative to support exports, by an amount of 2 billion pounds, bringing the total amount allocated for that stage to 12 billion pounds.

Last April 2023, the Council of Ministers approved the launch of the sixth phase, as a new phase of the immediate payment initiative to reimburse the arrears of export burdens due to exporting companies, which is the sixth phase, for their completed files with the Export Development Fund until December 31, 2022 shipments. Allocating 10 billion pounds for this stage.

The approved increase of EGP 2 billion comes to the allocations for the sixth stage. To maximize the benefit of the business community and companies from the immediate payment initiative to support exports.