The Bangladeshi government has approved US$200m in foreign loans to mobile operator Airtel Bangladesh in order to support the country’s telecoms market, according to local reports.
The green light for the loans was given by a government committee let…
The Bangladeshi government has approved US$200m in foreign loans to mobile operator Airtel Bangladesh in order to support the country’s telecoms market, according to local reports.
The green light for the loans was given by a government committee let by Bangladesh Bank governor Atiur Rahman that deals with the approval of foreign borrowing to the private sector.
Pacific Telecom, which controls part of smaller mobile operator Citycell, will also be awarded US$35.
Overall, the government has approved US$300m in foreign loans for 15 private companies in various sectors, with Airtel getting the bulk of it.
The companies will reportedly be required to return up to 4.5% plus the Libor rate as interest to the loans.
Airtel, which is majority-controlled by India’s largest telco Bharti Airtel, lags behind the three top operators in Bangladesh.
Neither the company nor the Central Bank could be reached for comment before the press deadline.
