Egypt reviews NUCA-NBE financial settlement

Egypt’s Prime Minister Moustafa Madbouly held a meeting on Monday to follow up on procedures to settle financial entanglements between the New Urban Communities Authority (NUCA) and the National Bank of Egypt (NBE). The meeting comes as part of broader efforts to resolve outstanding financial obligations among state entities.

Madbouly stressed the importance of accelerating the settlement of financial entanglements across government bodies to support the role of ministries and public authorities, particularly NUCA, in developing integrated urban communities and advancing the state’s sustainable urban expansion plans.

The meeting reviewed measures being implemented by NUCA, in cooperation with the Ministries of Finance, Planning, and Economic Development, to settle financial entanglements with several government entities and strengthen the authority’s financial resources.

Participants also reviewed NUCA’s financial position, including its financial entanglements with the National Bank of Egypt and the mechanisms being implemented to settle them as part of wider financial settlements with government entities.

The meeting further reviewed receivables owed to NUCA by government entities and the authority’s outstanding obligations, with participants stressing the importance of supporting NUCA’s efforts to advance urban development projects.