Chinese bank to provide $100 million loan to Robi

Dhaka, Bangladesh (BBN)- China Development Bank (CDB) on Monday signed a US$100 million deal with Axiata (Bangladesh) Ltd, a telecommunication company operating in Bangladesh under the brand name Robi and Chinese vendor Huawei.

Under the deal, the country’s third largest mobile operator Robi will purchase telecom equipment from Huawei to expand its network and improve mobile services.

The Chinese bank has already provided loans worth $260 million to telecom operators in Bangladesh.

WU Xinxing, chairman of the CDB, Motiul Islam Nawshad, head of human resource and corporate affairs of Robi, and Tony Zhang Hui, chief executive officer of Huawei, signed the deal in the capital, Dhaka, a press statement said.

BBN/SS/SI/AD-15June10-7:35 am (BST)  

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