Cairo: Prime Minister Moustafa Madbouly witnessed the signing of two significant framework agreements aimed at settling the historical debts owed by the National Investment Bank to the National Media Authority and the New Urban Communities Authority, amounting to EGP 98.1 billion. The signing ceremony took place at the Cabinet headquarters on Wednesday, August 26, 2026.According to State Information Service Egypt, these agreements are part of an ongoing initiative to resolve longstanding financial entanglements between the National Investment Bank and various national entities, some of which have persisted since the 1980s. This endeavor continues the successes achieved over the past six months.The agreements, signed under the directives of President Abdel Fattah El Sisi, involve Finance Minister Ahmed Kouchouk, Planning and Economic Development Minister and National Investment Bank Chairman Ahmed Rostom, and National Media Authority Chairman Ahmed el Moslemany for the first agreement. This agreement targe ts settling the National Media Authority's debts, valued at EGP 88.3 billion.The second agreement, valued at EGP 9.8 billion, was signed by Finance Minister Ahmed Kouchouk, Housing, Utilities and Urban Communities Minister Randa el Menshawy, and Planning and Economic Development Minister and National Investment Bank Chairman Ahmed Rostom. It focuses on resolving accumulated debts and financial entanglements between the National Investment Bank and the New Urban Communities Authority.Rostom highlighted that these agreements bolster the successive institutional and financial achievements of the National Investment Bank. They signify the Egyptian state's determination to comprehensively address historical debts and financial entanglements, thereby reinforcing the bank's role in supporting development efforts as a key state development arm.The planning minister further explained that, with these agreements, the total value of settlements from March to June 2026 has reached approximately EGP 294.1 billion. T hese settlements involve the National Investment Bank alongside entities such as the General Authority for Reconstruction and Agricultural Development, the Egyptian Agricultural Authority, the National Media Authority, the New Urban Communities Authority, and water companies.He emphasized that continued coordination among various entities would persist to close the file on financial entanglements and settle outstanding debts under the Prime Minister's guidance. Additionally, the National Investment Bank's Board of Directors recently approved financial results for the previous fiscal year, revealing a historic turnaround with a net profit of EGP 6 billion, compared to a loss of EGP 31.7 billion in fiscal year 2023/2024.He noted that resolving these debts and financial entanglements would enhance the bank's financial capabilities and solvency, allowing it to play a more effective role in supporting the country's development efforts.