IFC Invests in Tcell to Expand Access to Mobile Services
Published on: 24th Jul 2014
IFC, a member of the World Bank Group, is providing a $30 million loan to support Tcell's plans to expand its network and improve connectivity for its subscribers across Tajikistan.
With more than 3.3 million subscribers, Tcell is the largest mobile phone operator in the country. IFC's investment will help Tcell upgrade its network, increase coverage, and make mobile services more accessible and affordable, especially in remote, less-densely populated areas of the country.
Mansur Khamidov, Tcell's Director General, said: "The project is aimed at expanding coverage throughout the country and will particularly benefit low-income populations. The agreement also demonstrates that Tcell is a socially responsible company that meets globally recognized standards. Corporate social responsibility is embedded in our business strategy and IFC will support us with its expertise and knowledge for the benefit of the country."
Most Tajiks live in rural areas with limited access to transportation services, and mobile phones are vital in helping micro and small enterprises operate by lowering costs and increasing productivity.
"Improving infrastructure is critical in driving Tajikistan's economic growth," said Christopher Miller, IFC Country Officer in Tajikistan. "Our investment in Tcell is part of our commitment to accelerating private participation in infrastructure development. We expect this project to help improve access to knowledge and services, and enable new models of efficient delivery of government and business services."