Prime Minister Dr. Mostafa Madbouly held a meeting today to follow up on the procedures for resolving the financial entanglements between the New Urban Communities Authority (NUCA) and the National Bank of Egypt (NBE). The meeting was attended by Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities; Dr. Walid Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for Urban Communities; Tarek El-Khouly, Deputy Governor of the Central Bank of Egypt; Ahmed Abou Seada, Vice Chairman of NUCA for Financial, Administrative, and Human Resources Affairs; Mohamed El-Etreby, Chief Executive Officer of the National Bank of Egypt; and several relevant officials.
The Prime Minister emphasized the importance of expediting the settlement and resolution of financial entanglements among various state entities. This move aims to support the role of these ministries and authorities, particularly NUCA, in developing integrated urban communities and achieving the state’s targets regarding sustainable urban expansion in new cities.
Counselor Mohamed El-Homosany, the Official Spokesperson for the Cabinet, stated that the meeting addressed the procedures implemented by NUCA to resolve its financial entanglements with several government entities. These efforts, carried out in cooperation with the Ministries of Finance and Planning and Economic Development, aim to enable the Authority to bolster its financial resources.
The Cabinet Spokesperson clarified that the meeting featured a review of NUCA’s financial position, including the financial entanglements between the Authority and the NBE, as well as the ongoing mechanisms for their settlement within the broader context of settlements taking place between NUCA and various entities.
El-Homosany added that, while reviewing the debts owed to NUCA by government entities alongside its own financial obligations, the meeting underscored the importance of supporting the Authority’s efforts to advance work on various developmental projects within the urban sector.
