Team Telecom Armenia has received $45 million worth of funding from banks to help it deploy high-speed Internet in Armenia to enable the country's digital economy.
The operator, formerly known as Beeline, has received financing from the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and Russia's Ameriabank.
Chairman Aleksandr Yesayan said the investment will be used to deploy a 25Gbps next-generation fiber network connecting the country's cities, towns and villages. In addition, the funding will allow Team Telecom Armenia to upgrade and expand its 4G/LTE network.
CommsUpdate reports that the additional investment will improve the quality of connectivity for at least 1.1 million subscribers and that more than 450,000 homes will receive fiber optic technology to improve connection speeds.
