Ameriabank, together with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD), is launching a project to finance a major project aimed at implementing high-speed internet infrastructure in Armenia and supporting the country's digital economy. The program is implemented by one of the largest mobile and fixed internet operators in Armenia, Team Telecom Armenia.
The $45 million financing program will help Telecom Armenia improve its telecommunications network coverage and service quality, including the expansion of its 4G mobile network. The financing will also be directed to the construction of the best 25 Gb/s speed NGN (Next Generation Network) network in all cities and villages of Armenia.
As a result of the project, faster and better internet services will be provided to at least 1.1 million subscribers of the mobile system, and more than 450,000 households will be provided with fiber optic internet access.
Commenting on the start of cooperation, Chairman of the Board of Directors of "Team Telecom Armenia" Alexander Yesayan noted: "We value trust in ourselves, especially against the background of recent global developments, when investments are risky. This support will enable Tim to accelerate the capital investment program, expand and modernize both fixed and mobile networks, improving the quality of services provided to individual subscribers, business customers and promoting innovation and economic growth."
Ameriabank corporate and investment banking director Gagik Sahakyan also noted. "In the era of digital transformation, the availability of high-speed Internet services is critical to connecting people and businesses, especially in remote communities. Being the leader of the banking system of Armenia, we cooperate with our international partners IFC and EBRD in order to finance this project of strategic importance for our country. The program is aimed at introducing infrastructural and technological innovations in Armenia, which will contribute to the social development of communities and strengthening of economic potential. It's a very promising investment."
Telecom Armenia
Telecom Armenia is the leading fixed telephony operator and the second largest mobile operator in Armenia. Telecom Armenia provides internet, digital television, mobile and fixed telephony services throughout Armenia.
Team Telecom Armenia is a fully Armenian brand and a powerful team of 2,000 professionals. Combining creative thinking and endless technological possibilities, we build the most advanced network in the region and introduce modern and innovative products, contributing to the development of high-tech and telecommunication industries.