Egypt settles National Media Authority's EGP 88.3 billion debt to National Investment Bank

This figure was reached after canceling EGP 51.4 billion in accumulated interest and late-payment penalties. As part of the agreement, 44 underutilized assets, including land and buildings belonging to the National Media Authority, valued at EGP 18.06 billion, will be transferred to the National Investment Bank. The state will also provide additional land from its properties to cover the remaining debt.

This settlement ensures that revenue-generating assets of the National Media Authority are not affected. A significant outcome is the release of the mortgage on the National Media Authority’s shares in NileSat and Media Production City, which were pledged to the National Investment Bank, thereby strengthening the Authority's financial position. The agreement, which is subject to review by the Central Auditing Organization and other regulatory bodies, is part of broader state efforts to resolve financial entanglements among state entities, reduce domestic public debt, and enable the National Investment Bank to utilize transferred assets for national projects and job creation.