Egypt reviews outstanding dues to New Urban Communities Authority

Egypt’s Prime Minister Moustafa Madbouly followed up on the payment of outstanding dues owed to the New Urban Communities Authority from several ministries and entities during a meeting held on Tuesday.

During the meeting, Madbouly stressed that the discussion aimed to review in detail the outstanding payments owed to the authority and to expedite their settlement, given the priority the Egyptian state places on the New Urban Communities Authority and its central role in urban development. He noted that the authority’s projects represent a key pillar of planned urban expansion and a major driver of national economic growth and job creation.

The meeting included a comprehensive review of the implementation status of various projects carried out by the authority on behalf of other parties, alongside their costs, amounts already paid, and remaining dues. Participants also agreed on mechanisms to settle overdue payments or apply necessary offsets, in a way that secures the funding required for the authority to complete its ongoing projects.

The meeting also addressed the broader financial file of the New Urban Communities Authority, including its financial performance, strategic vision, and mechanisms to maximise resources, as well as the funding status of ongoing projects and its future investment plans.

Attribution: Amwal Al Ghad English