Arab Finance: The Ministry of Trade and Industry, represented by the Export Development Fund, has issued the first tranche of certificates under the seventh phase of the immediate cash payment initiative to 478 companies at a gross of EGP 7 billion and a net of EGP 6.3 billion, Minister of Trade and Industry Ahmed Samir stated.

The minister noted that 20 companies of which debts surpassed their dues received a total of EGP 70 million in assistance.

However, assistance to another 156 firms was deferred until the situation of their taxes and energy and gas bills was evaluated, he added.

Export Development Fund is proceeding with issuing the certificates for the second tranche of the initiative of which receivables will be disbursed on June 27^th, the fund’s CEO Amany El-Wassal said.

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