Sierratel secures $29Mn expansion & modernisation loan from India

www.WirelessFederation.com/news: Sierratel in order to replace its obsolete copper transmission networks with fiber optics in Sierra Leone has inked a loan agreement of US$29.45 million with India. According to Deputy Minister of Finance and Economic Development Momodu Kargbo, the loan will help the operator for infrastructural expansion and network modernisation.
The loan agreement, signed May 7, has a maturity period of 23 years and a grace period of eight years with a per-annum interest rate of 2.7%.