Robi-IFC sign $99m loan deal to improve telecom network

Robi Axiata Limited has signed a $99 million financing agreement with the International Finance Corporation (IFC) to expand its telecom network and build new telecommunication infrastructure networks.

Supun Weerasinghe, managing director and CEO of Robi, and M Rehan Rashid, IFC’s senior country officer, signed the agreement on behalf of their organisations at Hotel Amari in the capital on Sunday.

The IFC, a member of the World Bank Group, will provide the loan at an interest rate of around 2% while Robi’s parent company Axiata will be the guarantor for the loan.