Telecom Egypt, Egypt’s state-owned telecoms company, announced Wednesday (May 30th) that it has received a $ 200 million loan from a pool of Bank of China, a commercial bank, and China Export & Credit Insurance Corporation.
In its statement, the phone company says it is a long-term financing agreement, arranged by Huawei Technologies. The latter “played a key role in the process by providing competitive financing conditions for the deployment of its 4G network and the deployment of transmission networks,” she says.
The agreement with Chinese companies will last 48 months, with a grace period of 24 months.
Recall also that last week, Telecom Egypt announced it had initialed a $ 200 million financing agreement with the African Export-Import Bank (Afreximbank) to finance its working capital and investments in its infrastructure.
