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Grameenphone Secures Funding for 3G Network Deployment

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Bangladesh based Grameenphone has been given authorisation by the Central Bank to seek loans of up to USD355 million. The country's government still regulates foreign currency loans.

Citing an official at the company, the Daily Star said that the loan will be used to upgrade the network for the rollout of 3G services.

Just last month, Grameenphone borrowed Tk 846 crore from local banks and financial institutions as syndicated term loan for network expansion.

The government is planning its long delayed 3G license auction to take place in the next few months. A total of 50Mhz of spectrum is being made available and the reserve price has been set at USD30 million per Mhz of spectrum.

Grameenphone is majority owned by Norway's Telenor.

On the web: Daily Star

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Tags: grameenphone  Bangladesh