Egypt's Finance Ministry will disburse around EGP5 billion to approximately 2,000 exporting companies on August 7, as the first 50 per cent instalment for repaying dues from the export support programme, according to a report obtained by Amwal Al Ghad on Wednesday. Ahmed Kouchouk, Finance Minister, said the payment covers dues owed to exporters from the Export Development Fund (EDF) for shipments made up to the end of June 2024. It also underscores the government's commitment to clearing all arrears over four consecutive fiscal years starting from the current fiscal year. The move also helps support the export sector by providing cash liquidity to exporters, boosting export growth, and improving the competitiveness of Egyptian products in global markets, the announcement said. In a continued show of confidence and cooperation with investors, the ministry will reopen the application window for companies holding EDF certificates from August 17 to September 4, 2025. These firms will be eligible for a second payment round scheduled for September 18, the minister added. Kouchouk stressed that the 2025/2026 fiscal year includes the largest-ever allocation for export support in Egypt's budget, totalling EGP45 billion. This will enable the refund of current-year export burdens within just three months of documentation submission, in line with the new payment mechanism approved by the Cabinet. The payment mechanism continues a series of initiatives launched since 2019 in cooperation with the Ministry of Investment and Foreign Trade to support exporters, including the instant cash payment initiative in its seven phases. So far, this initiative has benefited 3,000 exporters, with a total of EGP70 billion in disbursed funds. Neveen Mansour, economic institutions relations adviser to the Minister of Finance, stated that the first instalment under the new mechanism will be disbursed through four banks: The National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and the Export Development Bank of Egypt (EBE). She stated that the government, in collaboration with the Central Bank of Egypt (CBE) and the banking sector, will facilitate payments for firms without accounts at the specified banks through accounts at other banks, without any additional fees. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
