Mostafa Madbouli monitors measures to resolve financial entanglements between the New Urban Communities Authority and the National Bank

Cairo - Ahmed Sabri: Prime Minister Dr. Mustafa Madbouli held a meeting yesterday to follow up on measures to resolve financial entanglements between the New and Renewable Energy Authority (New Urban Communities Authority) and the National Bank of Egypt. The meeting was attended by Eng. Randa El-Manshaawi, Minister of Housing, Utilities, and Urban Communities; Dr. Walid Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for Urban Communities; Tarek El-Khouly, Deputy Governor of the Central Bank; Ahmed Abu Seada, Deputy Chairman of the New and Renewable Energy Authority for Financial, Administrative, and Human Resources Affairs; Mohamed El-Attabi, Chief Executive Officer of the National Bank of Egypt; and several other relevant officials.

The Prime Minister emphasized the importance of accelerating the settlement and resolution of financial entanglements among various state entities, in support of the role of these ministries and authorities, particularly the New and Renewable Energy Authority, in developing integrated urban communities and implementing state targets regarding sustainable urban expansion in new cities.

Mohamed El-Hamssani, the official spokesperson for the Prime Minister’s Office, stated that the meeting focused on monitoring the procedures being implemented by the New and Renewable Energy Authority to resolve its financial entanglements with several government bodies, in cooperation with the Ministries of Finance and Planning and Economic Development. This aims to enable the Authority to strengthen its financial resources.

El-Hamssani clarified that the meeting reviewed the financial status of the New and Renewable Energy Authority, including the financial entanglements between the Authority and the National Bank of Egypt, as well as the ongoing mechanisms for their settlement within the context of settlements being carried out between the Authority and various other entities.