Telecom Egypt Secures EGP 18 Billion Loan From Consortium of Banks

Telecom Egypt has secured an EGP 18 billion loan from a consortium of 13 Egyptian banks to boost its infrastructure and drive growth in Egypt's telecommunications sector. This financing, spanning seven years, is the largest ever for Egypt's telecom industry. The Commercial International Bank (CIB) and Banque Misr led the arrangement and underwriting, with National Bank of Egypt (NBE) also acting as a key contributor.

CIB, serving as facility agent, contributed EGP 4.875 billion, while Banque Misr, acting as the account bank, matched this amount. NBE contributed EGP 2.5 billion to further strengthen Telecom Egypt's financial position.

This loan aims to enhance Telecom Egypt’s financial flexibility and support Egypt’s growing digital landscape.