Ukrtelecom $50 million financing

Overview:

• Ukraine's fixed-line telecom monopoly, Ukrtelecom, received €$50 million in financing from China Development Bank (CDB).
• The loan, which matures in 2022, will be used to modernise telecom networks in six Ukrainian cities, with work beginning in early 2016.  
• The financing was provided under a long-term agreement Ukrtelecom entered into with CDB and Huwaei, which will see the latter provide technology and former provide finance to the Ukrainian company. 

Ben Naylor - Regional editor