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Robi Bangladesh Gains Foreign Loan Approval for Network Expansion

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Bangladesh based Axiata, which operates under brand name Robi, has been granted approval by the Central Bank to accept a USD30 million loan from UK based Standard Chartered Bank to finance network infrastructure purchases for network expansion.

Four other companies also received foreign loan approvals totaling US$192 million.

"The mobile phone operator will use the fund for purchasing equipment to upgrade and expand its network across the country," the central banker said.

Robi Axiata is a joint venture company between Malaysia's Axiata Group and Japan's NTT DoCoMo. It was formerly known as Telekom Malaysia International (Bangladesh) which commenced operations in Bangladesh in 1997 with the brand name Aktel.

In 2008, DoCoMo bought a 30% stake in the company for USD350 million, and in March 2010, the service name was rebranded as Robi.

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Tags: axiata  robi  Bangladesh