The National Investment Bank’s (NIB) board is implementing an integrated investment plan based on strategic partnerships with the private sector to ensure the optimal use of assets transferred to the bank, Planning and Economic Development Minister Ahmed Rostom said on Tuesday, September 15, 2026.
The plan aims to transform the assets into income-generating investment projects that would strengthen the bank’s financial sustainability, Rostom said. He made the remarks during the signing of an agreement to settle 222.7 million Egyptian pounds ($4.3 million) in debt owed by New Valley governorate to the NIB.
The agreement caps efforts by the Ministry of Planning and Economic Development to resolve longstanding financial entanglements, which have helped strengthen the bank’s financial position and create greater fiscal space for it to resume its developmental role in supporting the national economy.
Rostom said the settlement reflected directives from the political leadership and the Cabinet to decisively resolve accumulated historical debts and enhance the role of the National Investment Bank as an effective development arm. The settlement with New Valley governorate was reached through a flexible mechanism involving the exchange of the debt for two plots of land within the governorate, he said.
The bank’s board also approved waiving part of the debt to accelerate the resolution of the dispute and ease the governorate’s financial burden. New Valley Governor Hanan Megdy said the signing of the debt-settlement protocol represented an important step in the governorate’s efforts to reorganize and invest its resources and maximize the use of its assets.
Resolving the issue would pave the way for reactivating the Housing Fund and launching economic housing projects to meet citizens’ needs and support the governorate’s urban development plans, she said. The governor expressed appreciation for the productive cooperation with the NIB and relevant authorities, which helped reach a mutually agreed settlement of the debt in full.
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