A nine-year loan of €18mn from the Black Sea Trade and Development Bank (BSTDB) will help Turkey’s mobile operator Avea expand its nationwide GSM-based network and supporting infrastructure.

With this loan, BSTDB is supporting the development of a high-quality telecom network in Turkey with a focus on serving rural and other underserved areas. The operation has a high economic development impact and job creation potential, which is particularly important for the bank.

By financing this project with a total cost of about US$1.5bn, BSTDB facilitates the mobilisation of solid funding outside of the Black Sea region and further exploits co-financing opportunities. The operation is co-financed by IFC and official development agencies – DEG (Germany), FMO (the Netherlands) and Proparco (France), as well as by a syndicate of international and Turkish commercial banks.

Avea is the youngest and most innovative GSM operator of Turkey with 8mn subscribers. The company is growing fast in both the corporate and individual services with the brand “Avea” and is investing constantly in technology and infrastructure as well as its management and employees.

Avea has over 1,800 employees and roaming agreements with 369 operators in 165 countries. Avea prioritises customer needs and renders innovative and quality services with the latest technology accompanied by its vision of being the leading company offering the customers the best quality services.