Afghanistan's Roshan Secures Funding for Network Upgrades
Published on: 15th Mar 2013
Note -- this news article is more than a year old.
Afghanistan based mobile network operator, Roshan has secured funding from the International Finance Corporation (IFC), a member of the World Bank Group, to support the rollout of the company's 3G and high speed data services throughout the country.
IFC will provide Roshan debt financing for the amount of USD65 million. Since Roshan was founded in 2003, it has concluded three earlier rounds of financing totaling almost $200 million. All of these previous loans have been fully paid on schedule.
To date, the company has invested more than $550 million in infrastructure to create a state-of-the-art, high quality, network that provides coverage to over 65 percent of the population in 230 cities and towns in all of Afghanistan's 34 provinces.
"In just a short period of time, the Afghan telecommunications market has grown rapidly and Roshan spearheaded that development. The ability to speak to one another is a basic human need and over ten years, Roshan has played an integral role in achieving this milestone. Now we are ready to lead the broadband revolution for Afghanistan's next generation," Karim Khoja, Roshan, Chief Executive Officer, said.