The International Finance Corporation (IFC) is providing a loan of up to USD150 million to Sri Lankan fixed and mobile operator Dialog Axiata to expand and improve broadband connectivity across the country. The loan will be used to upgrade and improve network capacity through the upgrading of existing sites and the building of new 4G ones. In addition, the telco will look to scale up its fibre-optic network footprint and implement upgrades to increase both capacities and efficiencies in core network operations.
Commenting on the development, Hector Gomez Ang, IFC’s Regional Director for South Asia, said: ‘IFC’s investment in this partnership shows our commitment to support the development of Sri Lanka’s private sector, even amid current uncertainties,’ while Dialog Axiata chairman David Nai Pek Lau, noted: ‘IFC’s funding will be critical in meeting Sri Lanka’s future digital connectivity needs, which is fundamental in helping people and businesses flourish during these challenging times.’