Prime Minister Moustafa Madbouly witnessed the signing ceremony of two framework agreements to settle the historical debts owed by the National Investment Bank to the National Media Authority and the New Urban Communities Authority, totaling EGP 98.1 billion.The ceremony was held at the Cabinet headquarters in the New Capital on Wednesday, August 26, 2026.
The agreements come as part of ongoing efforts to settle historical debts and financial entanglements between the National Investment Bank and various national entities, some of which date back to the 1980s, and continue the successes achieved over the past six months.
The agreements were signed in implementation of President Abdel Fattah El Sisi’s directives concerning the settlement of debts and financial entanglements between the National Investment Bank and national entities. They also follow the direct and continuous oversight of Madbouly and intensive meetings among the relevant national institutions.
Finance Minister Ahmed Kouchouk, Planning and Economic Development Minister and National Investment Bank Chairman Ahmed Rostom, and National Media Authority Chairman Ahmed el Moslemany signed the first agreement. It provides for the settlement of the National Media Authority’s debts to the National Investment Bank, valued at EGP 88.3 billion.
Finance Minister Ahmed Kouchouk, Housing, Utilities and Urban Communities Minister Randa el Menshawy, and Planning and Economic Development Minister and National Investment Bank Chairman Ahmed Rostom signed the second agreement. It is valued at EGP 9.8 billion and provides for the settlement of accumulated debts and financial entanglements between the National Investment Bank and the New Urban Communities Authority.
In this context, Rostom said that today’s agreements reinforce and underscore the successive institutional and financial successes achieved by the National Investment Bank. They also reflect the strong determination of the Egyptian state and its various institutions to comprehensively resolve historical debts and financial entanglements, thereby strengthening the bank’s role in supporting development efforts as one of the state’s key development arms.
He noted that the agreements do not merely settle debts but also recalibrate the bank’s financial position, enabling it to perform its role more efficiently and effectively. The planning minister explained that, with the signing of the two agreements, the total value of settlements signed between March and June 2026 reached approximately EGP 294.1 billion.
These settlements involved the National Investment Bank, on one side, and the General Authority for Reconstruction and Agricultural Development, the Egyptian Agricultural Authority, the National Media Authority, the New Urban Communities Authority, and water companies, on the other.
He stressed that the coming period would witness continued coordination among the various entities to close the file on financial entanglements and settle outstanding debts under the auspices of the Prime Minister.