Prime Minister Moustafa Madbouli chaired a meeting on Monday to review procedures for resolving outstanding financial issues between the New Urban Communities Authority (NUCA) and the National Bank of Egypt (NBE).
The move forms part of the government’s efforts to accelerate financial settlements among state institutions and strengthen the financial position of key public entities.
During the meeting, Madbouli stressed the importance of expediting the settlement of financial obligations between government bodies to enhance the efficiency of state institutions and support their development objectives.
He underlined that resolving these financial issues is particularly important for NUCA, enabling it to continue implementing integrated urban development projects and advancing the state’s strategy for sustainable urban expansion through the development of new cities.
Cabinet spokesman Mohamed el-Homosani said the meeting reviewed the procedures being undertaken by NUCA to settle its financial obligations with several government entities, in coordination with the Ministries of Finance and Planning and Economic Development.
These measures are intended to strengthen the authority’s financial resources and improve its capacity to finance ongoing and future development projects.
El-Homosani added that the meeting also reviewed debts owed to NUCA by government bodies alongside the authority’s outstanding financial commitments.
Participants stressed the importance of supporting NUCA’s financial sustainability to ensure the continued implementation of urban development projects and reinforce its role in advancing Egypt’s comprehensive urban development agenda.
