The cabinet media center dismissed Saturday 24/09/2022 as rumors reports claiming that the government had borrowed from banks to complete projects of the New Administrative Capital.

The center contacted the New Administrative Capital Company which stressed that such news is “baseless.”

All the projects are independently financed via the New Administrative Capital Company’s self-resources, gained from the proceeds of lands sale to the real estate developers, along with additional investments in the project, the company stressed.

The cabinet media center urged news outlets, users of social networks to seek accuracy while reporting to avoid being misled by fake news.

Source: State Information Service Egypt