The payment, set to begin on August 7, will go to approximately 2,000 companies, representing the initial 50% cash portion of a new mechanism designed to settle outstanding dues from the Export Development Fund for shipments up to June 2024. This move underscores the government's commitment to clearing all overdue payments to exporters over four consecutive fiscal years, commencing with the current fiscal year.
Kouchouk stated that the targeted reimbursement period for
export burdens, once necessary documents are submitted, is just three months.
He also announced that due to high demand, applications from
new companies holding certificates from the Export Development Fund will be
accepted again between August 17 and September 4, 2025.
The Minister of Finance highlighted that the current fiscal year's budget includes the largest allocation for export support in the nation's history, totaling EGP 45 billion. This builds on successful collaborations with the Ministry of Investment and Foreign Trade, which since 2019 has launched various initiatives, including the "Immediate Cash Payment" program. That initiative, across its seven phases, has benefited some 3,000 exporting companies with a cumulative value of approximately EGP 70 billion.