Ucom and EDB are negotiating investment

Eurasian Development Bank (EDB) Management Board Chairman Andrey Belyaninov announced on September 6 that the bank plans to increase investment in Armenia, taking it up to USD 300m, and is considering investing in Ucom.

In response to Itel.am’s request, Ucom has confirmed they are negotiating with EDB and pointed out that the subject of the talks is a loan.

According to the company, it is yet unclear when the negotiations will be complete.

“Ucom has secured the largest capital investments in Armenia’s telecommunications industry over the last few years, but the company wants to make its technical development and growth continuous through introduction of new technologies, so the efforts aimed at attracting funds are natural,” Ucom said.