Egypt settles EGP9.8bn NUCA debt

Egypt signed an agreement on Wednesday to settle 9.8 billion Egyptian pounds in accumulated debts and financial interconnections between the National Investment Bank (NIB) and the New Urban Communities Authority, as part of efforts to resolve historical state debts.

The agreement forms part of the state’s efforts to settle historical debts and financial interconnections between NIB and national entities, some of which date back to the 1980s.

The two agreements signed on Wednesday bring the total value of NIB debt settlements signed between March and June 2026 to around 294.1 billion Egyptian pounds.