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Bangladesh,Hong Kong,India,Mauritius : AIRTEL BANGLADESH taps foreign banks for $95m funds for network development project [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Airtel Bangladesh has announced that it has planned over $95 million worth of investment strategy to upgrade its network through banks loans. The country s youngest telecom services provider will tap two overseas banks to secure funding for its network development project. Recently the telecom regulator of Bangladesh has awarded a no-objection certificate (NOC) to the company for its long-term offshore loan proposals. As part of these proposals, Airtel Bangladesh will secure more than $45 million from Standard Chartered Bank in Mauritius, and $50 million from HDFC in Hong Kong. The Chairman of Bangladesh Telecommunication Regulatory Commission - Sunil Kanti Bose disclosed, We have given green light to the mobile operator to take the loans. It's good that Airtel is investing to upgrade their network. In a statement, Airtel Bangladesh revealed, This is a routine fund raising for our business requirements. The telecom firm has spent $105 million in 2013 to acquire 5 megahertz spectrum to launch 3G network services in Bangladesh. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info, an Albawaba.com company |