Financed ProjectsCorporate loan to GNC-Alfa

Identification Code:

OP/12/0012

Total Operation Cost:

0

Maturity:

96 months

Operation Status:

Description and Purpose of the Operation:

Countries of Operation:

Armenia (100,00 %)

Financial Product:

Loans

Sector:

Telecommunication Services

Domain:

Private

Borrower/Client:

GNC-Alfa was established in 2007 as the licensed telecommunications operator. The Company’s network is based on fibre-optic cable infrastructure spanning approximately 1,500 km, and covering approximately 70% of the territory of the Republic of Armenia.Ultimate Shareholder is OJSC Rostelecom (Russia). Rostelecom owns 100% of the company Rostelecom International (Cyprus), which controls 75% less one share of the company Filor Ventures (Seychelles), which is the 100% shareholder of the GNC-Alfa.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The Operation is expected to have high economic development impact as it facilitates the development of the nation-wide broadband network rollout, providing access to triple-play services (internet, cable and telephone). The financing shall support the expansion of the internet roll-out network and related services (IP Telephony, VoIP) in the Republic of Armenia.

Environmental Classification and Impact (summary):

The environmental assessment concludes that the environmental, health and safety impacts associated with this operation are not likely to be significantly negative and according to the BSTDB Environmental Screening it is assigned Category C.

Operation Leader:

Energy & Infrastructure

E-mail:

ei@bstdb.org