News
30 September 2019
EIB agrees $60m telecom efficiency financing in Lebanon and Guinea
In:
IT and telecoms
Region:
Middle East & Africa
The European Investment Bank has signed a $60 million financing agreement with Beirut-based IPT Powertech Group to support the energy efficiency of telecommunications’ infrastructure in Lebanon and Guinea.
The EIB financing will support the installation of a new energy efficient infrastructure for the existing and new cellular towers across Lebanon and Guinea, in order to improve the energy efficiency and reliability of power supply, as well as increasing renewable energy consumption.
The money is equally split between Lebanese and Guinean projects. It will contribute to the creation of more than 250 and 1,700 permanent jobs respectively in Lebanon and Guinea.
