Egypt’s PM reviews settlement of financial entanglements with NIB

Egypt’s Prime Minister Moustafa Madbouly on Monday reviewed efforts to untangle financial entanglements between state entities and the National Investment Bank (NIB), the Cabinet said.

Madbouly chaired a meeting with NIB Vice Chairman Ashraf Negm, reiterating the government’s commitment to strengthening the bank’s role as a key economic and investment arm supporting Egypt’s development agenda.

Minister of Planning and International Cooperation Rania Al-Mashat highlighted the NIB’s role in improving the efficiency of public investments and financing development projects to maximise their socio-economic impact.

Negm outlined recent debt repayments and measures being implemented to resolve outstanding financial entanglements, according to the Cabinet statement.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser