Egypt Restructures Debts with Investment Bank Worth EGP 294.1 Billion

The Egyptian government headquarters witnessed, on Wednesday, the signing of two framework agreements to settle historical debts owed to the National Investment Bank by the National Media Authority and the New Urban Communities Authority, totaling 98.1 billion Egyptian pounds, as part of efforts to untangle financial entanglements, including the settlement of the National Media Authority’s debts, valued at 88.3 billion pounds.

Dr. Ahmed Rustom, Minister of Planning and Economic Development, stated that the sequential signing of the “untangling” agreements reflects a strong will from the Egyptian state to comprehensively resolve historical debts and financial entanglements, thereby enhancing the role of the National Investment Bank in supporting development efforts as one of the state’s main developmental arms.

Relevant sources said that the total settlements signed since March until June 2026 now amount to 294.1 billion Egyptian pounds, between the National Investment Bank and several government entities.

According to a recent report covering Egyptian foreign trade data, Egypt’s imports of liquefied natural gas (LNG) rose during May 2026, reaching approximately 1.726 billion kilograms, valued at $1.219 billion (64.57 billion Egyptian pounds), compared to 1.174 billion kilograms in May 2025.

Meanwhile, foreign trade data revealed an increase in the value of Egypt’s crude oil imports, which reached approximately 2.208 billion tons, valued at $1.416 billion (71.96 billion Egyptian pounds), during the period from January to April 2026.

In the telecommunications sector, Mohamed Shamroukh, CEO of the National Telecom Regulatory Authority in Egypt, stated that mobile companies have begun procedures to take over the “new frequencies,” with operations to commence sequentially starting from January next year, thereby supporting network capacities and contributing to improving the quality of telecommunications services provided to users.