Prime Minister Moustafa Madbouly stressed the importance of accelerating the settlement of financial entanglements among state entities to support the work of government ministries and agencies, particularly the New Urban Communities Authority (NUCA), in developing integrated urban communities and advancing the State's sustainable urban expansion plans in new cities.
The Prime Minister made these remarks during a meeting on Monday, July 20, 2026, to review measures to resolve financial entanglements between NUCA and the National Bank of Egypt (NBE). The meeting was attended by Minister of Housing, Utilities and Urban Communities Randa el Menshawy, Deputy Minister of Housing, Utilities and Urban Communities for Urban Communities Walid Abbas, Deputy Governor of the Central Bank of Egypt Tarek El Kholy, NUCA Vice Chairman for Financial, Administrative and Human Resources Affairs Ahmed Abu Saada, National Bank of Egypt Chief Executive Officer Mohamed El-Etreby, and other relevant officials.
The meeting reviewed procedures being implemented by NUCA to settle its financial entanglements with a number of government entities, in cooperation with the Ministries of Finance and Planning and Economic Development, with the aim of strengthening the authority's financial resources, Cabinet spokesman Mohamed El-Homsany said.
He added that the meeting also reviewed NUCA's financial position, including its financial entanglements with the National Bank of Egypt and the mechanisms currently being implemented to settle them as part of broader financial settlements between the authority and various government entities.
The meeting also reviewed receivables due to NUCA from government bodies and its outstanding financial obligations, stressing the importance of supporting the authority's efforts to advance various urban development projects. The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital President Sisi inaugurates 'Octagon' Strategic Command headquarters in New Capital The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital President Sisi inaugurates 'Octagon' Strategic Command headquarters in New Capital