1 Day
Source:
صدى البلد
Prime Minister witnesses Media debt settlement
The Egyptian government has signed two agreements totaling 98.1 billion Egyptian pounds to settle the historical debts of the National Investment Bank, with the aim of ending financial entanglements with the National Media Authority and the New Urban Communities Authority. This step comes in implementation of President Sisi’s directives and contributes to rectifying the bank’s financial position, as well as enhancing its role in supporting national development efforts. From March until June 2026, settlements worth approximately 294.1 billion pounds were signed with various entities, leading to the bank achieving a net profit of 6 billion pounds compared to losses of 31.7 billion pounds in the previous fiscal year. This confirms that these settlements help increase the bank’s liquidity and its capacity to undertake its developmental role.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)