Syria: EUR 100 million loan for telecom upgrade
The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) is granting a EUR 100 million loan for the extension of the fixed line telephone network to poorly served areas of Syria.
The project referred to as the “third rural telecoms project” will connect 430,000 new customers across 4,300 villages located in mostly rural areas across the country to the telephone network through the installation of suitable access technologies based on copper, fibre or wireless solutions. The project will be implemented and managed by the Syrian Telecommunications Establishment (STE).
This is the first telecom sector operation signed under FEMIP in the Mediterrannean region. The finance contract was signed on 16 December 2005 in Paris by Mr Philippe de Fontaine Vive, EIB Vice-President in charge of FEMIP, and Dr. M. Bachir Munajed, Minister of Communications and Technology for Syria.