Dialog Telekom PLC has entered into a financing agreement for US$ 30 million from two banks for tele-infrastructure procurement from Sweden as part of a US$ 85 million agreement mandated last year.

Dialog has informed the Colombo Stock Exchange (CSE) that this will enable it to improve public access to affordable and reliable telecommunication services in order to increase capacity and extended coverage particularly in rural and under-served areas.

The package was arranged by the Standard Chartered Bank, Colombo and Deutsch Bank AG in equal proportions.

Dialog has told the CSE that it intends to utilize the local currency equivalent of US$ 30 million in the preliminary tranch by the middle of February.