The progress was announced during a board meeting chaired by Planning and Economic Development Minister and NIB Chairman Ahmed Rostom to review the final stages of the settlements and approve the bank’s restructuring plan.
The minister said the restructuring aims to maximize the bank’s role in supporting the implementation of Egypt’s economic and social development plan, while improving the management and allocation of public investments.
Denying an earlier news report, the government will not be liquidating NIB, but is currently working on a restructuring plan said Negm
According to sources, the fund is currently in talks to negotiate with the National Investment Bank
