EBRD funds Turkey’s investment in high-tech undersea cable system

The European Bank for Reconstruction and Development (EBRD) is funding Turkey’s investment in a new high-tech fibre-optic submarine communications cable system that will carry data between 17 countries, from Singapore to France and Italy.

The Bank is providing a US$ 50 million loan to Türk Telekom Group, Turkey’s largest telecommunications company, which is building the new submarine cable system in a consortium with 17 other telecommunications operators.

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