CAIRO – Egypt’s Finance Minister Mohamed Maait said EGP 1.2 billion are being paid as part of exporters dues within the immediate cash payment initiative.
A new group of exporters benefitting from the initiative’s fourth stage, launched in November, representing 500 companies started receiving cash, the minister said.
Maait, in a statement issued by the Finance Ministry, noted that about EGP 33 billion were disbursed, in line with the government’s support to exporters of more than 2,500 companies, thus attesting to the government’s commitment to back the export sector.
The “immediate cash payment” initiative enjoyed a high turnout from the business community, in a way reflecting its success in providing cash liquidity that would enable exporters to fulfill their obligations towards their customers and would preserve employment, especially in light of the repercussions of the coronavirus pandemic, Maait underlined.
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