23 Hrs
Source:
بوابة أخبار اليوم
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Historic Agreement Reached
The historic settlement of debts exceeding 88 billion Egyptian pounds represents a significant achievement in rescuing the Egyptian National Media Authority (Maspero). It involved canceling overdue interest and fines totaling 51.4 billion pounds, leading to a stabilization of the debt at 88.3 billion pounds. Additionally, ownership of 44 unused assets was transferred to the National Investment Bank valued at 18.06 billion pounds, and government lands were provided to settle the remaining debts. This enables the authority to benefit from its investments and strengthens its financial position. The goal of this agreement is to empower the authority to develop media content and implement restructuring plans after decades of accumulated debts.
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