Euro Bank Funding Peruvian GSM Network

The European Investment Bank says that it is providing a US$51.2 million loan to Telefonica Moviles in Peru for investment in a new mobile network operating in the GSM standard. The rollout of the GSM network will extend coverage into areas of the country, which have not been yet served, and will allow for capacity increases in the main cities.

Improved access to telecommunications helps to promote economic development as crucial information for economic agents may circulate efficiently and at lower cost.

The project will allow increasing the customer base among medium to low-level socio economic sectors as well as in the Peruvian provinces. The project is part of an investment programme by subsidiaries of Telef

Posted to the site on 14th July 2006