IFC helps Idea Cellular increase affordable mobile phone svc

Kolkata, Oct 24 (UNI) International Finance Corporation (IFC), a member of the World Bank group, today announced that it would help expand the availability of affordable mobile telephone services in the country by supporting Idea Cellular Limited, a local mobile telephone company.

Idea Cellular Ltd Managing Director Sanjeev Aga said IFC's 100 million dollar loan would help strengthen Idea's network in its existing markets and enable the extension of services to Bihar.

The loan would also help establish a national long-distance network to meet the growing demand for services, he added.

'' IFC's investment will provide the much-needed long-term funding that many companies in India find difficult to access while helping expand the local telecomunication infrastructure, '' he said adding, '' Following our recent launch in Mumbai, we will soon be providing services in Bihar. '' IFC Director for Global Information and Communication Technologies Mohsen A Khalil said, '' Improving communication infrastructure creates opportunities for many people and businesses in India, particularly in underserved areas such as Bihar. IFC is pleased to support India's private sector in advancing the government's goal of doubling mobile penetration by 2010. '' UNI SJC KK DB1836