Ukrtelecom to borrow USD 10mln from ZTE

Ukrtelecom to borrow USD 10mln from ZTE

The Chinese producer of telecommunications equipment will help implementing infrastructural projects of Ukrtelecom

Ukrtelecom will take USD 10mln loan from the Chinese producer of telecommunication equipment ZTE. The raised funds will be channeled into financing of the projects of fiber-optic communication for internet access. The projects must have a payback period of not more than 5 years, according to Ukrtelecom.

The agreement foresees that the funds will become available starting June 2018. Until then, the company engineers and business managers will make a road map of the project and other feasibility studies liable in the frames of the reached agreements.

Ukrtelecom has a wide range of cooperation experience with the Chinese companies. In 2016, Ukrtelecom announced cooperation with China Development Bank and Huawei. The company planned to use USD 50mln credit facility in order to modernize its telecommunications network. By start 2018, Ukrtelecom absorbed USD 30mln of the facility. The funds were channeled into modernization of the networks in 6 major cities of Ukraine.

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