Speaking at the financing to Dialog Telekom to expand its telecom network and build a new telecommunication infrastructure network with a US$100 million package he said the current penetration is around 32 per cent. "This will reach the 40 per cent mark by the end of the year.
He also said that the active participation of the four-telecom operators has also helped to achieve this growth.
He said that by the end of 2008 there would be 100 percent population coverage. "This currently is around 90 per cent," he said.
He said that Dialog introduced SMS roaming to the region. "One reason for Sri Lanka to be ahead of technology in the region is that regulators have granted permission faster that other countries. It has taken over four years for some countries in the region to grant approval for SMS roaming," he said.
Wijayasuriya said that they were delighted that IFC has reinforced its commitment to Dialog's growth story. Building on the relationship seeded in 2004 through a long term financing arrangement. We are strongly encouraged that IFC has increased its participation in Dialog in the form of equity and expanded debt financing.
We are also appreciative of the high degree of market sensitivity displayed by IFC in structuring a tailor made financing package to meet the company's needs and opportunities".
The 100 million package for five years includes a US$ 70 million term loan facility and a US$ 30 million equity commitment via the acquisition of a 1.6 per cent holding in Dialog from Telekom Malaysia (TM).
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