Egypt launches new phase of export support initiative with EGP 8.7 bln

Amany El-Wassal, the executive director of the EDF, explained that 1,130 companies from various sectors have applied to benefit from the programme, according to a statement from the Ministry of Trade and Industry. 

The government will start paying the EGP 8.7 billion first tranche in the EGP 10 billion phase on 5 or 6 July, according to a previous ministry statement.

The initiative is designed to help companies expand their production and export activities amid challenging global economic conditions.

More than EGP 42 billion has been disbursed to various Egyptian exporters under the initiative since its launching in October 2019.