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Zain Iraqi unit gets $400m debt facility

Baghdad, March 1, 2011

The Iraqi unit of Kuwait's telecom firm Zain said on Tuesday it had received a 7-year, $400 million debt facility from the World Bank's International Finance Corporation.

'The long-term debt facility will help Zain Iraq expand service coverage and improve telecommunications quality throughout Iraq, help unlock opportunities for entrepreneurship and innovation, and increase employment in a key industry,' Zain said in a statement.-Reuters

Tags: Mobile | Telecom | Kuwait | broadband | IT | Zain Iraq |

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