MEDUSA Submarine Cable Project

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This project consists of construction and deployment of a submarine cable system interconnecting five European countries (Portugal, Spain, France, Italy and Cyprus) with four North African countries (Morocco, Algeria, Tunisia and Egypt). It is planned to have a total length of 7,100 km and will include 12 landing points in the nine countries mentioned. The total investment stands at $358.82 million, of which $42 million grant is provided by the European Union (EU) and $104.92 million is the expected contribution of the European Investment Bank (EIB). The sponsor of the project is AFR-IX, which is a telecommunication operator in Africa. Financing agreement is signed on October 5, 2023. https://www.eib.org/en/projects/loans/all/20210166 https://www.eib.org/en/press/all/2022-499-the-eu-and-eib-global-team-up-to-upgrade-digital-connectivity-to-the-southern-neighbourhood https://www.eib.org/en/projects/pipelines/all/20210166 https://neighbourhood-enlargement.ec.europa.eu/system/files/2022-11/2022-11-24%20-%20Factsheet%20for%20Media%20-%20Medusa.pdf