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IFC finances network upgrade in Paraguay.

TELECOMWORLDWIRE-15 July 2005-IFC finances network upgrade in Paraguay(C)1994-2005 M2 COMMUNICATIONS LTD

A mobile communications network in Paraguay is to receive USD15m for expansion and upgrade, financed by the International Finance Corporation (IFC), the private sector arm of the World Bank Group.

The IFC is to finance the cellular network of Telefonica Celular del Paraguay (Telecel), part of Millicom International Cellular. It said the investment will support private sector participation in infrastructure projects. In addition, it claimed the investment will encourage other foreign investors and lenders to become involved in Paraguay's market and increase the development of the country's communications sector.

According to Telecel, it is developing its existing network using the USD15m from IFC and its own operating cash flow, to provide a nationwide overlay. It said its customers will benefit from better access and improved services.

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Title Annotation:Telefonica Celular del Paraguay, International Finance Corp.
Comment:IFC finances network upgrade in Paraguay.(Telefonica Celular del Paraguay, International Finance Corp.)
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 15, 2005
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