The second and third tranches of the initiative's fourth phase will run by the end of February and April, Gamea said in a statement issued by the ministry on Thursday.

Providing exporters with these cash payments comes in implementation of President Abdel Fattah El Sisi’s directives to support the export sector, noting that paying back the exporters’ dues has helped Egyptian exports to hit $31 billion by the end of 2021.

A total of EGP 13.2 billion were disbursed to 1,069 companies as part of the initiative's first phase, while LE 4.6 billion were paid to 923 companies in the second phase and LE 1.8 billion were given to about 700 companies in the third phase, she noted.

Gamea said the total export subsidies disbursed since the launch of the initiative to 1,751 companies amounted to LE 20.5 billion.