{"id":627519,"date":"2018-06-04T04:06:40","date_gmt":"2018-06-04T04:06:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/nrea-nib-reach-egp-3-4-bn-debt-settlement-agreement\/"},"modified":"2018-06-04T04:06:40","modified_gmt":"2018-06-04T04:06:40","slug":"nrea-nib-reach-egp-3-4-bn-debt-settlement-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/nrea-nib-reach-egp-3-4-bn-debt-settlement-agreement\/","title":{"rendered":"NREA, NIB reach EGP 3.4 bn debt settlement agreement"},"content":{"rendered":"<p>Renewable energy authority reaches EGP 3.4 bn debt settlement agreement with National Investment Bank: The New and Renewable Energy Authority (NREA) has reached an agreement to settle over the course of 10 years some EGP 3.4 bn in debt owed to the state\u2019s National Investment Bank (NIB), NIB Chairman Mahmoud Montasser <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=03062018&id=d2fe3b8e-68e2-454d-9592-dec0b4728e21\">tells Al Shorouk<\/a>. The two sides are waiting on the necessary approvals to formally sign the settlement agreement, according to Montasser. The agreement comes as part of the NIB\u2019s drive to settle some EGP 24 bn in debt it is owed by a range of state bodies. The bank is currently closing in on a settlement with the Chemical Industries Holding Company and is inching toward agreements on some EGP 500 mn owed by each of the General Authority for Supply Commodities (GASC) and the Food Industries Holding Company. The National Media Authority is also looking to repay a portion of its debt to NIB \u2014 the value of which was not disclosed \u2014 by handing over four land plots. The bank <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/30\/cotton-textiles-holding-co-nib-sign-egp-8-7-bn-debt-settlement-agreement\/\">had signed last month<\/a> an EGP 8.7 bn debt settlement agreement with the Cotton & Textiles Industries Holding Company, which may be a prelude to the company selling some of its assets to the private sector to pay off other debts, company CEO Ahmed Moustafa <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/29\/what-were-tracking-on-29-may-2018\/\">had told us<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renewable energy authority reaches EGP 3.4 bn debt settlement agreement with National Investment Bank: The New and Renewable Energy Authority (NREA) has reached an agreement to settle over the course of 10 years some EGP 3.4 bn in debt owed to the state\u2019s National Investment Bank (NIB), NIB Chairman Mahmoud Montasser tells Al Shorouk. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627519","post","type-post","status-publish","format-standard","hentry","category-energy","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"982ef0a7-e8f2-4b71-b933-13f6b89f9c9f","order":"0","is_powered_by":true,"section_story_id":"f974c010-f5e2-4781-813c-ee2e77cef8bc","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627489],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NREA, NIB reach EGP 3.4 bn debt settlement agreement - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/nrea-nib-reach-egp-3-4-bn-debt-settlement-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NREA, NIB reach EGP 3.4 bn debt settlement agreement\" \/>\n<meta property=\"og:description\" content=\"Renewable energy authority reaches EGP 3.4 bn debt settlement agreement with National Investment Bank: The New and Renewable Energy Authority (NREA) has reached an agreement to settle over the course of 10 years some EGP 3.4 bn in debt owed to the state\u2019s National Investment Bank (NIB), NIB Chairman Mahmoud Montasser tells Al Shorouk. 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The company\u2019s debt to NIB had peaked at EGP\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623347,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/egypt-state-companies-to-settle-egp-80-100-bn-in-debt-owed-to-nib\/","url_meta":{"origin":627519,"position":1},"title":"Egypt state companies to settle EGP 80-100 bn in debt owed to NIB","author":"enterpriseam admin","date":"28 October 2018","format":false,"excerpt":"President Abdel Fattah El Sisi and the Madbouly Cabinet approved a plan for state-owned companies to settle EGP 80-100 bn in debts owed to the state\u2019s National Investment Bank (NIB), Al Mal reported on Thursday. 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