IFC approves $400m loan for PTCL to acquire Telenor Pakistan
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The International Finance Corporation (IFC) has approved a loan of $400 million to Pakistan Telecommunication Company Limited (PTCL), reported 24NewsHD TV channel on Friday.
The company will use the funding to acquire Telenor Pakistan.
A one year grace period finance agreement with PTCL has been entered into for seven years.
The International Finance Corporation-led consortium includes the Silk Road Fund and the British.
On international investment, they agreed on June 27, 2024.
The $400 million loan will be repaid in quarterly installments.
Reporter: Ashraf Khan