Cairo: Prime Minister Moustafa Madbouly emphasized the need for an expedited resolution of financial entanglements among various state entities to bolster the operations of government ministries and agencies, particularly the New Urban Communities Authority (NUCA). This initiative aims to advance the development of integrated urban communities and the State's sustainable urban expansion plans in new cities.
According to State Information Service Egypt, the Prime Minister made these comments during a meeting held on Monday, July 20, 2026. The meeting focused on reviewing strategies to resolve financial entanglements between NUCA and the National Bank of Egypt (NBE).
The meeting was attended by several key officials, including Minister of Housing, Utilities and Urban Communities Randa el Menshawy, Deputy Minister of Housing, Utilities and Urban Communities for Urban Communities Walid Abbas, Deputy Governor of the Central Bank of Egypt Tarek El Kholy, NUCA Vice Chairman for Financial, Administrative and Human Resources Affairs Ahmed Abu Saada, and National Bank of Egypt Chief Executive Officer Mohamed El-Etreby, among others.
Cabinet spokesman Mohamed El-Homsany stated that the meeting evaluated the procedures NUCA is implementing to address its financial entanglements with various government entities. This effort is being conducted in collaboration with the Ministries of Finance and Planning and Economic Development, with the goal of reinforcing the authority's financial resources.
Furthermore, the meeting examined NUCA's financial position, including its entanglements with the National Bank of Egypt and the mechanisms currently in place to resolve them. This is part of a broader initiative to settle financial issues between the authority and multiple government entities.
The discussion also highlighted the receivables due to NUCA from government bodies and its outstanding financial obligations. The importance of supporting the authority's efforts in advancing urban development projects was underscored during the meeting.