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China Development Bank to lend $60 mln to Beltelecom for network upgrade
30 March 2010
China Development Bank will lend U.S. $60 million to Belarusian state telecoms operator Beltelecom for network modernization. The loan agreement was signed during a visit of a Chinese delegation to Belarus on March 24-25, 2010.
“The operator will use these funds to purchase equipment and upgrade its network. A substantial part of the loan will be used to expand the data transfer network,” a spokesperson for the operator told Prime-Tass.
The spokesperson did not elaborate as to the repayment schedule or interest rates, though.
The Chinese side will also provide Belarus with a moveable inspection complex worth about $4.4 million.
Beltelecom was created in 1995. It provides 70 types of services and employs 24,000 personnel.
MINSK, March 30 (Prime-Tass)