Idea gets $100 mn IFC loan for new rollouts
International Finance Corporation, the private sector funding arm of the World Bank, will provide a $100 million loan to Idea Cellular to roll out services in Bihar and strengthening its existing networks.
By ET Bureau |
MUMBAI: International Finance Corporation (IFC), the private sector funding arm of the World Bank, will provide a $100 million (Rs 460 crore) loan to Idea Cellular to roll out services in Bihar and strengthening its existing networks.
���The loan will also help establish a national long-distance network to meet growing demand for services,��� IFC and Idea said in a statement in Mumbai on Wednesday.
IFC and Idea are developing a project that will establish 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.
���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,��� said Idea Cellular MD Sanjeev Aga.
IFC director for Global Information and Communication Technologies, said: ���Improving communications infrastructure creates opportunities for many people and businesses in India, particularly in areas such as Bihar.���
In May this year, Asian Development Bank announced a loan of $150 million to GTL Infrastructure for developing rural telephony in India.
���The loan will also help establish a national long-distance network to meet growing demand for services,��� IFC and Idea said in a statement in Mumbai on Wednesday.
IFC and Idea are developing a project that will establish 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.
���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,��� said Idea Cellular MD Sanjeev Aga.
IFC director for Global Information and Communication Technologies, said: ���Improving communications infrastructure creates opportunities for many people and businesses in India, particularly in areas such as Bihar.���
In May this year, Asian Development Bank announced a loan of $150 million to GTL Infrastructure for developing rural telephony in India.
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