Is it permissible for a company to benefit from a financing initiative with a 5% interest rate to pay off existing debts with higher interest rates, knowing that not doing so would expose the company to the risk of bankruptcy?

It is not permissible to engage in usury except out of necessity, which permits forbidden acts, and the limit of necessity has been previously explained. The terms of a contract must be fulfilled, for Allah Almighty says: "O you who have believed, fulfill [all] contracts," and the Prophet, peace and blessings be upon him, said: "Muslims are bound by their conditions." So, if the financing is conditioned upon the implementation of specific projects, it is not permissible to resort to deception to take it for another purpose, such as repaying debts.