Egypt's National Investment Bank Undergoes Major Restructuring to Boost Startups and Public Investment

Dr. Ahmed Rostom, who is both the Minister of Planning and Economic Development and the Chairman of the National Investment Bank, recently chaired a board meeting. The meeting focused on the latest updates regarding the bank's restructuring plan. This move is part of the government's broader effort to strengthen the bank's role as a key investment and development arm, supporting the nation's economic and social development plans. The Minister emphasized how important it is to link databases between the Ministry of Planning, the Ministry of Finance, and the National Investment Bank. He sees this as crucial for making public investment management more efficient and for closely tracking financial availability, connecting it directly to how projects are actually being implemented. Dr. Rostom also pointed out that this approach aligns perfectly with using a program and performance budgeting system. This ensures resources are allocated more efficiently and helps measure performance across different government administrative units, ultimately making public spending more effective. **Supporting Investments and Empowering Startups** The Minister explained that the bank's restructuring aims to maximize returns on its investments and expand support for emerging investments, whether in companies or other banks. A big focus is on empowering startups and leveraging the bank's subsidiaries to back new initiatives, especially in job creation and entrepreneurship. **Digital Transformation** Dr. Rostom directed the bank to develop its information infrastructure and adopt the latest technological advancements. This is all about supporting digital transformation and making decision-making more efficient. He added that these current directions are in line with presidential directives for the government to achieve sustainable economic development, increase the private sector's contribution to economic activity, and improve citizens' living standards. The Minister affirmed that the government relies on thorough feasibility studies, innovative financing tools, and stronger partnerships with the private sector. This ensures the highest developmental returns and the sustainability of projects. Dr. Rostom stressed the importance of good governance for public investments. This means developing a comprehensive system to prioritize projects, monitor their implementation, and evaluate their economic and social impact. This follows the directives of Dr. Mostafa Madbouly, the Prime Minister, who called for clear performance indicators to efficiently direct resources towards priority projects. During the meeting, the bank's board of directors reviewed the outlines of the future restructuring plan and its role in implementing public investment governance policies, ensuring they align with the state's priorities and the economic and social development plan.