The European Bank for Reconstruction and Development (EBRD) and Banque Misr have jointly provided a syndicated loan of approximately US$ 80 million to Orange Egypt, supporting the telecom giant’s acquisition of a 5G licence from Egypt’s National Telecommunications Regulatory Authority. The financing includes €39 million from the EBRD and US$ 40 million (around €35.6 million) from Banque Misr’s Dubai branch.
This investment will enable Orange Egypt to roll out 5G services, enhancing data speeds and reducing network latency, thereby benefiting consumers and businesses with improved connectivity, innovative offerings, and accelerated digital growth. The network upgrade is also expected to cut CO2 emissions by over 1.7 million tonnes annually, underscoring the project’s environmental benefits through energy-efficient technology.
Jean-Marc Peterschmitt, EBRD’s Managing Director for the Corporate Sector, highlighted the strategic importance of this partnership in strengthening Egypt’s digital infrastructure and boosting economic development. Mohamed Khairat, Head of Corporate Banking and Syndicated Loans at Banque Misr, emphasized the bank’s commitment to supporting key sectors like telecommunications that drive the national economy.
Khaled Nabil Khorshed, Head of Wholesale Banking at Banque Misr UAE, noted that the Dubai branch’s participation aligns with Banque Misr’s strategy to enhance regional presence and facilitate international financing. Mohamed Sayed, CFO of Orange Egypt, expressed pride in the collaboration and reinforced the company’s vision to advance sectors such as education, healthcare, and smart cities through 5G technology, bridging the digital divide and promoting Egypt’s digital economy.
Orange Egypt, a subsidiary of the French telecom operator Orange, primarily operates mobile networks but also offers fixed-line services and IPTV. Since 2012, the EBRD has invested over €13.2 billion in Egypt through 202 projects and supported more than 750 SMEs with technical assistance.
