MTS earmarks USD300m New Development Bank loan for network/cloud infrastructure

1 Feb 2021

Russia’s Mobile TeleSystems (MTS) has signed a seven-year USD300 million credit agreement with the New Development Bank (NDB) set up by the BRICS (Brazil, Russia, India, China and South Africa) group of countries, to fund digital infrastructure development. The MTS initiative – the first project of its kind to be funded by the NDB – will focus on expanding mobile network coverage in rural areas and investing in cloud computing capabilities. MTS CEO Alexey Kornya commented: ‘MTS is actively working together with international organisations on sustainability projects aimed at improving people’s lives. This agreement with the NDB is a major milestone in advancing vitally important infrastructure projects. The funds secured under this special-purpose loan will help us expand connectivity in rural towns and remote regions, improving access to digital services for both residents and businesses.’

Russia, Mobile TeleSystems (MTS)