The Export Development Fund issued 338 export certificates under the third phase of the immediate disbursement of export subsidies initiative among the export support programme, The Minister of Trade and Industry, Nevine Gamean said
A total of 456 companies received total subsidies worth EGP 874.8 million or a net value of EGP 785.5 million after deducting due tax and gas bill arrears, Gamea said in a statement on Sunday.
The number of companies that have applied to join the export subsidy payment initiative has reached 1,634, Gamea added.
The initiative, launched by the Ministry of Trade and Industry and the Ministry of Finance in coordination with banks, includes the payment of subsidies owed by the Export Development Fund to exporters in a lump sum at a 15% discount instead of scheduling payments over years.
