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European Investment Bank loans $167m to Telecom Egypt

The facility will be used to deploy around 2,000 new mobile sites and installing additional capacity layers to Telecom Egypt’s existing towers portfolio.

By João Marques Lima

Founder and Editor, The Tech Capital

3 Mins

March 31, 2022 | 12:25 AM BST

European Investment Bank loans $167m to Telecom Egypt

Adel Hamed, Telecom Egypt Managing Director and CEO. Source: Telecom Egypt

Telecom Egypt signed an agreement with the European Investment Bank (EIB) - the lending arm of the European Union - to secure a medium-term loan of €150 million (US$167.39 million) to expand Telecom Egypt’s 4G broadband network.

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João Marques Lima

Founder and Editor, The Tech Capital

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