EDB to finance one ofRussia’s largest telecom projects
Moscow, 15 September 2014. Eurasian Development Bank (EDB) and Russian Towers signed a ten-year loan facility agreement for a total of RUB 2 billion.
In accordance with the agreement, the loan will be used to develop the company’s telecommunications infrastructure throughout Russia. In particular, the project envisages the construction and upgrade of antenna masts and towers to be shared by mobile network operators. The loan from EDB is expected to increase the portfolio of facilities managed by Russian Towers to 2,000 by the end of 2016.
Gennady Zhuzhlev, Deputy Chairman of the Management Board at EDB, believes that, „This project will make it possible for operators to lower their costs, decrease the time for establishing telecommunications infrastructure, and optimise their operations.”
EDB expects that the project will contribute to the improvement of competition and quality in the Russian market in mobile services.
„The Bank’s trust in our company confirms the effectiveness of our work and the prospects for Russian Towers,” comments Dmitry Nelyubov, General Director of Russian Towers. „This finance will help to advance quality and high-tech infrastructure in the telecommunications market.”
Additional Information
Russian Towers is an independent owner of antenna masts and towers in Russia. The company provides telecommunications infrastructure for sharing. In particular, it invests in the construction of its own towers in Russian regions and purchases and maintains towers for operators. The company was set up in 2009 with financial support from UFG Asset Managеment, the European Bank for Reconstruction and Development (EBRD), the Macquarie Renaissance Infrastructure Fund, ADM Capital, Sumitomo Corporation, and International Finance Corporation (IFC). Read more at https://www.rtowers.ru/
Russian Towers:
Alexander Tsyplyakov,
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.