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.
Read full article here: http://www.ebrd.com/news/2016/ebrd-funds-turkeys-investment-in-hightech-undersea-cable-system.html