To instigate services in Bihar and to strengthen Idea’s existing network, International Finance Corporation (IFC), the private sector funding arm of the World Bank will lend a $100 million (Rs 460 crore) to Idea Cellular. According to Idea and IFC, this loan will help to establish a national long-distance network to meet growing demand for services. Idea and IFC are working on a project that will estabilish Pocket Public Calling Offices to deliver mobile phone-based communications and other value-added services to under-served rural communities and the urban unconnected in India. Idea Cellular MD Sanjeev Aga, said IFC’s investment will provide the much-needed long-term funding that many companies in India find difficult to access while helping expand the local telecommunications infrastructure. For developing rural telephony in India, Asian Development Bank announced a loan of $150 million to GTL Infrastructure in May 2008.
Wireless Federation » archive for 'IFC'
Idea gets $100 mln monetary support from IFC (India)
- September 25th, 2008
- 6:02 am
Digicel to invest USD334 million in Panamanian operation (Panama)
- September 8th, 2008
- 11:58 am
After winning the country’s third GSM licence, Digicel set to invest USD334 million in its Panamanian subsidiary. It is reported that the funds are to be used for the construction of network infrastructure, and the International Finance Corporation (IFC), a private financing arm of the World Bank to be involved with the project. USD50 million is plan to be financed by IFC. Moreover IFC will assist Digicel in developing further new initiatives designed to increase access in rural and low income urban areas. Key challenges have been noted for the scheme, the high cost of rural network deployment is a key barrier to increasing rural penetration in many developing countries including Panama.
