Politics
Egypt settles EGP 102.75 billion debt owed to National Investment Bank
September 30, 2026 at 11:34 AM
Prime Minister Mostafa Madbouly witnessed the signing of a tripartite agreement settling a 102.75-billion-EGP debt owed to Egypt's National Investment Bank.
- Madbouly witnessed the signing of the framework agreement by the Finance, Planning, and Industry ministers in the New Administrative Capital.
- The settlement waives 51 billion EGP in late-payment fines and combines a Finance Ministry cash payment with state-owned assets transferred to the bank.
- Planning Minister Ahmed Rostom said total settled debts now exceed 400 billion EGP, after 298.8 billion EGP was settled since February.
- Rostom said the settlement implements President Abdel Fattah el-Sisi's directives to address local debt challenges through innovative mechanisms.