ProCredit Bank and telecommunications company Skytel have signed loan agreements to implement a project for the development of internet infrastructure in Georgia. The funding is provided under the Risk Sharing Facility Framework (RSFF) program, implemented jointly with the European Bank for Reconstruction and Development (EBRD).

Skytel has been operating in the Georgian telecommunications market since 2010, providing telecommunication services to private clients, businesses, and government organizations. The company plans to use the received funds for the phased expansion of its network and to increase high-speed internet coverage.

Skytel CEO Armen Obosyan noted that cooperation with ProCredit Bank and the EBRD will accelerate the development of digital infrastructure, including in regions where internet access is currently limited. According to him, the expansion of internet networks is an important element in the development of society, business, and government services.

ProCredit Bank emphasized its support for projects aimed at the long-term development of companies. The bank has been cooperating with Skytel for over 15 years and has previously participated in financing various initiatives of the operator.

An EBRD representative stated that the development of broadband internet in the regions of Georgia will help bridge the digital divide, enhance the competitiveness of these areas, and expand the participation of the population and businesses in the digital economy.