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EBRD makes US$ 60 million loan to Polish cellular telephone company
The European Bank for Reconstruction and Development (EBRD) today announced a loan of US$ 60 million (ECU 47.1 million) to Polska Telefonia Komorkowa (PTK), a Polish joint venture created to build and operate a cellular telephone network. The loan will help finance the construction of an NMT 450 cellular network and the purchase of network equipment.
Other lenders will be invited to participate in the loan for an amount of US$ 20 million.
Polska Telefonia Komorkowa will address some of Poland's short term telecommunications needs, providing bridge technology in telecommunications until the major land network investment programme is implemented and will offer subscribers an immediate, reliable and flexible telecommunications service. When the land network provides increased capacity, the cellular service will continue to meet Poland's mobile telecommunications needs. The joint venture intends to establish a country wide network.
PTK is a joint venture between the Polish PTT, the operator of the land telecommunications network in Poland; France Telecom Mobiles International, a subsidiary of the French national telephone company; and Ameritech International, the fourth largest Regional Bell Operating Company in the US. It is anticipated that the company will be fully operational by mid 1992.
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