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Turk Telekom gets EBRD loan to boost broadband
July 2, 2012 / 9:11 AM / in 5 years

Turk Telekom gets EBRD loan to boost broadband

ISTANBUL, July 2 (Reuters) - The European Bank for Reconstruction and Development (EBRD) will support the expansion of broadband internet services in eastern regions of Turkey with a 100 million euro ($127 million) loan to landline operator Turk Telekom, the bank said in a statement on Monday.

The proceeds of the loan will be used to finance capital expenditures for fixed broadband network expansion in the regions of Adana, Diyarbakir, Erzurum, Kayseri, Samsun and Trabzon in Turkey, the EBRD said.

Since the beginning of its operations in Turkey, the EBRD has committed close to 2 billion euros to various sectors of the economy such as energy and infrastructure sectors, mobilising additional investment of over 5 billion euros. ($1 = 0.7880 euros) (Writing by Seltem Iyigun; Editing by Jon Loades-Carter)

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