Egypt clears 90% of financial debts

The National Investment Bank of Egypt has successfully settled approximately 90% of its historic financial entanglements, amounting to 298.8 billion Egyptian pounds, with the aim of enhancing its ability to fulfill its developmental and investment roles. This achievement followed joint efforts with multiple entities, most notably the General Authority for Urban Development Projects, the National Media Authority, and several water and wastewater companies, all aimed at correcting the bank’s financial situation and leveraging its real estate and investment assets to achieve the highest returns. This step marks an important beginning toward restoring the bank’s strategic role as a catalyst for development and supporting major projects across Egypt.

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