Telecom Egypt last week secured a US$200 million financing with a number of Chinese financial institutions.
Huawei facilitated providing competitive financing conditions to Telecom Egypt to finance the roll-out of the 4G network and the deployment of transmission and core networks.
The Operator has also secured a US$200 million short-term facility from the African Export-Import Bank (AFREXIMBANK) to finance working capital and investments in Telecom Egypt's infrastructure.
Terry Liu, CEO, Huawei Egypt Office
Throughout the years Huawei has been successful in building and maintaining a strong partnership with Telecom Egypt. Today, we are taking another step towards strengthening this partnership and supporting Telecom Egypt in their strategy to expand by facilitating the financing agreement.
Eng. Ahmed El Beheiry, MD and CEO, Telecom Egypt
Telecom Egypt has several strategic long-term expansion plans to be delivered in the coming years. To achieve such plans we have worked on attaining long-term financing at the lowest possible cost as well as the most convenient payment terms to match our cash flow generation while proceeding with our rollout plans.
