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Ukrainian telecoms to get major boost
Ukrainian telecommunications will be substantially improved following the participation of the state telecommunications entity in a transborder project (Italy-Turkey-Ukraine-Russia, "ITUR"), funded by 26 international telecommunications operators and banks. The involvement of the Ukrainian Enterprise for International and Interurban Telecommunications and Broadcasting (UKRTEC) has been made possible through a US$ 53.12 million loan by the European Bank for Reconstruction and Development (EBRD).
Jacques de Larosière, President of the EBRD, said "This is the Bank's largest investment in Ukraine. We are most pleased to assist with this important project, which will provide Ukraine with modern telecommunications links with Europe, neighbouring Black Sea countries and, indeed, the rest of the world. This project has been completed quickly and marks the start of a more active business partnership between the Bank and Ukraine."
Proceeds from the loan will be used to: finance Ukraine's contribution to the ITUR consortium which will construct the sub-sea cable; construct and operate the "land link", a fibre optic cable land spur linking the ITUR landing station at Odessa to Kiev; finance the acquisition of line extensions beyond the ITUR terminating station at Palermo, Italy, to the rest of the world; and finance the purchase of digital circuit multiplication systems. A fifth component of the project is the provision of technical cooperation.
Existing international telecommunications links retain the configuration and technology of the former Soviet Union, and are proving wholly inadequate for Ukraine's growing base of private businesses, particularly those trading with western countries. The country's capacity for dealing with non-CIS calls is also reaching its maximum.
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