The loan, provided by the European Bank for Reconstruction and Development (EBRD) and Banque Misr, includes €39 million from the EBRD and $40 million (€35.6 million) from Banque Misr’s Dubai branch.
As a result, the move will help Orange Egypt buy a 5G licence from the National Telecommunications Regulatory Authority.
By launching 5G, Orange Egypt will offer faster internet speeds and lower delays, improving service for users.
According to the telecoms giant, this upgrade is expected to benefit both customers and businesses by enabling innovation, better customer experiences and digital growth.
Additionally, the network upgrade is also expected to cut Orange Egypt’s CO2 emissions by 1,740,031 tonnes a year.
Orange Egypt, chief financial officer, Mohamed Sayed, said: “We are proud to partner with Banque Misr and the EBRD in a move that underscores international confidence in Egypt’s economy and supports our vision for advancing the telecommunications sector.
“Through technologies such as 5G, we aim to enhance services in education, healthcare and smart cities, bridging the digital divide and driving Egypt’s digital economy forward.”
EDRD, managing director for the corporate sector, Jean- Marc Peterschmitt, said: “We are delighted to enable the upgrade of Orange Egypt’s mobile services and to partner with Banque Misr for this strategic investment.
“This project will strengthen Egypt’s digital infrastructure, contributing to improved internet connectivity for local consumers, businesses and the broader economy.”
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