601 exporters receive EGP 368 M under Egypt's exports program

Egypt’s Minister of Finance, Ahmed Kouchouk, announced that the government has finalized disbursement of the first 50 percent cash installment under a Cabinet-approved mechanism to settle overdue receivables owed to exporters by the Export Development Fund for shipments up to June 2024.

According to Kouchouk, 601 exporters have received a total of LE 368 million, in addition to payments made earlier on August 12.

He highlighted that the current fiscal year has earmarked LE 45 billion for the revamped export support and rebate program—twice the amount allocated in previous years.

The program ensures that exporters can reclaim their dues within three months of completing the required documentation, aligning with the Cabinet’s directive to expedite arrears settlement.

Kouchouk emphasized that these efforts build on ongoing successes in cooperation with the Ministry of Investment and Foreign Trade. Since 2019, a series of initiatives have been introduced to support exporters, including the seven-phase Immediate Cash Payment initiative, which has delivered around LE 75 billion in payments to nearly 3,000 exporters.