Cairo – Mubasher: The Egyptian prime minister Mostafa Madbouly announced the launch of a new export subsidy programme worth EGP 6 billion.

Such programme aims to settle delayed payments pledged by the government to support exporters, according to a statement released by the cabinet.

In addition, nearly 1,000 small exporting firms will obtain their due subsidies without any delays, Madbouly affirmed.

It is noteworthy that the Export Development Fund (EDF) has allocated export subsidies worth EGP 6 billion for fiscal year 2019/2020, compared to EGP 4 billion in the previous fiscal year.