Mobile Finance

Feb 08, 2008 (LBO) – Sri Lanka’s Dialog Telekom, a unit of Telekom Malaysia, said it had raised 30 million US dollars from two banks to buy telecommunications equipment from Sweden. The package was arranged by Standard Chartered Bank in Colombo, Dialog said in a stock exchange filing.

It was backed by EKN, Sweden’s export credit guarantee agency. Standard Chartered and Deutsche Bank had participated in the financing in equal proportions.

“This will enable Dialog to improve public access to affordable telecommunications in order to increase capacity and extend coverage, particularly in rural and underserved areas,” Dialog said. The deal, signed on February 08, was part of an 85 million dollar agreement mandated in 2007.