Kouchouk emphasized that this move is part of broader financial policies designed to stimulate private sector-led economic growth. The Ministry of Finance, in coordination with the Export Development Fund, has already initiated the executive procedures, with actual disbursements set to begin on August 7 through Banque Misr, National Bank of Egypt, Banque du Caire, and Export Development Bank of Egypt. The minister affirmed the government's commitment to settling all outstanding arrears for shipments made before June 2024, with around 2,400 exporting companies expected to benefit from this first tranche.
Nevin Mansour, Advisor to the Minister of Finance for Economic Institutions Relations, added that the remaining 50% of exporters' arrears will be settled through an offset mechanism. This means the amounts will be deducted from their debts owed to tax authorities, customs, social insurance, electricity, and gas companies. Mansour also highlighted that Egypt has already provided EGP 70 billion in support to over 2,800 exporting companies between 2019 and 2024.