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Minister of Planning Clears 294.1B Debt to National Investment Bank
The Minister of Planning and Economic Development announced that the total overdue debts owed to the National Investment Bank have been settled, amounting to 294.1 billion Egyptian pounds. This included settlements with water and sanitation companies, the Agricultural Reclamation Authority, Maspero, and the New Urban Communities Authority. These settlements aim to restructure the bank's financial position and enable it to resume investing in developmental projects with economic and social returns. As a result, the bank's financial performance has significantly improved, recording, for the first time, a net profit of approximately 6 billion Egyptian pounds by the end of the 2024-2025 fiscal year, after previous losses totaling 31 billion pounds. This reflects the success of the debt management plan and the rebuilding of the bank’s financial structure to support its role in economic development.
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