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اليوم السابع
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Madbouly oversees debt settlement signing
Egypt has witnessed the signing of a framework agreement between the Ministries of Planning and Economic Development, Finance, and Industry to settle the historic debt of the National Investment Bank, amounting to 102.75 billion Egyptian pounds until August 2026. The mechanism includes a partial monetary repayment by the Ministry of Finance and the transfer of state-owned assets to the bank, with the aim of improving its financial position and reactivating it as a developmental arm. Additionally, the bank will be exempt from delay penalties totaling 51 billion Egyptian pounds. This agreement marks a turning point in reducing the debts of the public sector, as the total facilitation and financial solutions completed have exceeded 400 billion Egyptian pounds since February of this year.
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