Home Business ZTE Provides Ukrtelecom with a Long-Term Line of Financing

ZTE Provides Ukrtelecom with a Long-Term Line of Financing

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The first stage provides for allocating ten million dollars.

The global leader in telecommunications and information technology ZTE opened a long-term financing line to Ukrtelecom, the first stage of which provides for funding joint projects in an amount equal to USD 10 million. This was announced to the Mediasat reporter by the operator’s press office.

The financing is intended for implementing projects to expand the coverage of optical access to the Internet of localities, upgrade the access network and other installations of the Ukrtelecom infrastructure.

Signing the agreement, Yuriy Kurmaz CEO at Ukrtelecom, stated: “Given the current situation, we can observe an exaggerated interest of global business in the national ICT infrastructure operator. This line of financing will be drawn for projects with a payback period of less than 5 years.”

Huang Mingxi, Director of ZTE Urkaine LLC added: “We are starting a new chapter of long-term cooperation between ZTE and Ukrtelecom. From now on, the cooperation will not only focus on supplying equipment to consumers, but also extend to important infrastructure solutions essential for developing Ukrtelecom network.”

Under the terms of the above agreement, the funds will be available from June 2018. In the meanwhile, the company’s professionals will draft a roadmap and calculations for projects that are scheduled to be implemented in the framework for cooperation.