Egypt signs framework deal to settle EGP 102.75B IMPA debt to NIB

Prime Minister Mostafa Madbouly witnessed the signing of a framework agreement to settle a long-standing debt of EGP 102.75 billion, owed by the Industrial and Mining Projects Authority (IMPA) to the National Investment Bank (NIB).

Under the agreement, a total of EGP 51 billion in late-payment penalties will be waived, reducing IMPA’s financial burden and…