Egypt settles EGP102.75bn IMPA debt to National Investment Bank

Egypt signed on Wednesday a tripartite framework agreement to settle the 102.75 billion Egyptian pounds historical debt owed by the Industrial and Mining Projects Authority (IMPA) to the National Investment Bank (NIB).

The agreement, signed by the Ministries of Planning and Economic Development, Finance, and Industry, covers the authority’s total debt as of the end of August 2026 and includes an exemption from 51 billion pounds in late-payment penalties to ease its financial burdens and support its development plans.

The settlement will involve a cash payment covered by the Ministry of Finance, alongside the transfer of state-owned assets to the National Investment Bank for reuse and investment to strengthen its financial position and restore its role as a development arm.

The settlement is part of efforts to resolve financial entanglements and historical debts owed to the National Investment Bank by ministries and public authorities through mechanisms including asset swaps and partial exemptions.

With the latest settlement, total debts resolved and agreements signed by the Ministry of Planning and Economic Development and the National Investment Bank exceed 400 billion pounds, including complex debts dating back to the 1980s.

Since February, the National Investment Bank has completed financial settlements worth 298.8 billion pounds. The settlements included 133.5 billion pounds with the General Authority for Reconstruction and Agricultural Development Projects, 88.3 billion pounds with the National Media Authority, and 62.2 billion pounds with the Holding Company for Water and Waste Water (HCWW) and its subsidiaries.

They also included 9.8 billion pounds with the New Urban Communities Authority, 306 million pounds with the Egyptian Agricultural Authority, and 222.7 million pounds with New Valley Governorate.