Jordan Telecom Company – Orange Jordan signed a financing agreement, with Cairo Amman Bank to obtain a JD 30 million financing to be repaid over the period of 5 years, with the purpose of supporting its operational projects.
The agreement was signed by the Chairman of the Board of Directors of Jordan Telecom Company – Orange Jordan Dr. Shabib Ammari, the CEO of Orange Jordan, Philippe Mansour, and Cairo Amman Bank – General Manager, Kamal Albakri, in the presence of a number of executives from both sides.
On the sidelines of the agreement signing, Mansour highlighted the importance of this step in enabling Orange Jordan to achieve growth, saying: “This financing will help Orange anticipate its customers’ needs, elevate our services, and expand our geographical presence.”
This agreement is harmonized with both parties’ belief in the importance of partnerships to elevate the digital services that reshape the scene, including Fiber networks, and 5G services. This will serve as a leap of action when it comes to digital services that respond to the needs of all customers.
Commenting on this step, Orange Jordan’s Deputy Chief Executive Officer, Chief Financial and Strategy Officer, Raslan Deiranieh, underscored the significance of this agreement with one of the leading finance institutions in Jordan to support Orange Jordan’s sustainable and operational growth. It also comes in alignment with its vision to expand as this financing will cover the cost of operational and capital costs related to the future plans of the company.
He pointed out that factors that led to granting Orange the investment-grade credit rating helping the company offer an added value to its shareholders, included the company's financial and operational successes in addition to its role in enhancing efficiency over the past years. He emphasized that this agreement indicates the confidence of the partners from the banks in the company's financial capabilities and its future strategy.
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