LE 12B disbursed via immediate cash payment initiative

Minister of Finance Mohamed Maait confirmed that on Wednesday and Thursday, the third batch of the sixth phase of the immediate cash payment initiative will be disbursed to 744 exporting companies with almost LE 4 billion. The value of support for the entire sixth phase is nearly LE 12 billion for 1,558 exporting companies.

The minister indicated that the Cabinet agreed to increase the allocations for the sixth phase of the “immediate cash payment” initiative to support the exporters by an additional LE 2 billion, to become LE 12 billion instead of LE 10 billion, to enhance the benefit of the business community and exporting companies from the initiative.

This maximizes opportunities for expansion of productive and export activities in light of the exceptional circumstances of the global economy.