GSM Investments & 3G Licenses

Telegoegraphy is reporting on Warid’s further investment in Pakistan in the form of a $100m loan from IFC:

…..private sector investment arm of the World Bank, the International Finance Corporation (IFC), is to extend a USD100 million loan and arrange a syndicated loan of USD140 million for Paktel rival Warid Telecom. According to an IFC document seen by Dow Jones Newswires, Warid Telecom is seeking the loans to finance the construction, expansion and operation of a nationwide GSM network. The project, which began in June 2006, is estimated to cost USD 1.4 billion and is expected to be completed in June 2009.

Government of Pakistan is also reportedly considering to offer three nationwide UMTS (3G) licenses.


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