Ameriabank has partnered with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) to finance a high-speed broadband infrastructure in Armenia by Telecom Armenia, one of the country’s largest mobile and fixed broadband operators, and boost the digital economy in the country. 

The total financing package in the amount of USD 45 million will help Telecom Armenia improve the coverage and service quality of its telecom networks. The funding will be directed for the construction of the region's best 25 Gb/s Next Generation Network in all cities and villages of Armenia and the expansion of the 4G network. As a mobile result of the project, at least 1.1 million mobile subscribers will be provided with faster and higher-quality internet connections, and more than 450,000 households will be provided with access to faster fiber access technology.

Commenting on the launch of the partnership, Chairman of the Board of Team Telecom Armenia Aleksandr Yesayan noted: “We highlight the trust in ourselves, especially given reduced investor appetite amid global developments. This support will enable “Team” to accelerate the capital investment program and expand and upgrade both fixed and mobile networks and as a result, improve service quality to both individual subscribers and business clients, which will spur innovation and economic growth.”

Gagik Sahakyan, Corporate and Investment Banking Director at Ameriabank CJSC, commented: “In the era of digital transformation, the availability of broadband internet services is crucial for providing better connectivity to people and businesses, especially to those in the remote communities. As the leading bank in Armenia, we have joined our international partners, IFC and EBRD, to finance this strategic project for the country. It aims to develop infrastructural and technological innovation in Armenia, which will boost social development and strengthen the economic potential of underdeveloped communities. This is an investment long into the future.”

About Telecom Armenia

Telecom Armenia is the leading fixed-line operator in Armenia and the country’s second largest mobile operator. Telecom Armenia provides broadband internet, IPTV, mobile, and fixed telephony services throughout Armenia.

Team Telecom Armenia is an all-Armenian brand and a powerful team of 2,000 professionals. By combining creative minds and inexhaustible opportunities in technologies, we are building the most advanced network in the region and launching modern and innovative products, contributing to the development of high-tech and telecommunication industries.