Cairo – Mubasher: The Egyptian Export Development Fund has issued 511 export certificates with total subsidies worth EGP 2.4 billion or a net value of EGP 2.2 billion after deducting tax and gas bill arrears as part of the second phase of the immediate disbursement of export subsidies initiative.
The Minister of Trade and Industry, Nevine Gamea, issued a decision to extend the initiative to the end of April instead of 31 January, according to a statement on Sunday.
Certificates for this period will be issued in June.
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.
