IFC extends $100 million loan to Idea

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IFC extends $100 million loan to Idea

October 15, 2008

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The International Finance Corporation (IFC), the private sector funding arm of the World Bank, has given a $100 million loan to Idea Cellular to help the company extend its network in the Bihar circle and strengthen its existing networks. The funds will also be used to establish Idea Cellular's national long distance network which will enable it to meet the growing demand for telecom services. IFC and Idea are developing a project that will establish pocket public calling offices to deliver mobile phone-based communications and other value-added services to underserved rural communities and the urban unconnected in India.