New Valley settles 222.7M debt to NIA
A settlement agreement has been signed between the New Valley Governorate and the National Investment Bank regarding a debt of 222.7 million Egyptian pounds, aimed at resolving historical financial entanglements and strengthening the bank's financial position. The agreement includes exchanging part of the debt for land within the governorate and waiving a portion of it to alleviate the financial burden on the governorate. This is expected to help activate development and investment projects, including housing initiatives and other vital sectors, as well as boosting private sector participation in development. These settlements are part of the Ministry of Planning's efforts to clean up the financial landscape, achieve economic sustainability, and increase investments in the governorate.
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